Report: $1 Billion In Nevada Cannabis Tax Revenue Likely By 2024

Nov 9, 2018

Nevada could gather more than $1 billion from the marijuana industry by 2024, according to an industry group's recent economic analysis. KUNR contributor Kaleb Roedel of the Northern Nevada Business View has more. 

Officials from the Nevada Dispensary Association say Nevada could potentially be one of the nation’s largest marijuana marketplaces. Due to its pot-friendly policies, strict "seed-to-sale" regulations and the prospect of doing business with some of the 45 million tourists who visit Las Vegas and Reno each year.

According to the analysis, there will be approximately 6,000 jobs in cannabis facilities and about 8,000 will be created in the industry by 2024.

The states excise tax revenue will be around $70 million, the total economic benefit will be around $989 million and the taxable sales will be about $540 million.

To read the full story, visit the Northern Nevada Business View.