The Nevada Tax Department is taking steps to address issues with state-licensed cannabis testing facilities. According to the Las Vegas Review-Journal, four of the the state’s nine licensed cannabis testing facilities have been suspended in the last five months.
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Nevada’s recreational marijuana industry hit a new high, selling more than $37.9 million in October. The state has earned nearly $20 million in marijuana tax revenue since the adult-use market launched in July.
Tax revenue from Nevada’s fledgling marijuana industry continues to climb. On Dec. 20, 2017, the Nevada Department of Taxation reported that marijuana sales brought in approximately $5.8 million in tax revenue in the month of October.
Nevada took a chance on recreational cannabis this summer, and it looks like the payout is huge. In its first month of adult-use sales, Nevada raked in nearly $3.68 million in cannabis tax revenue
On Aug. 10, 2017, the Nevada Department of Taxation determined that there is an insufficient number of alcohol distributors applying for recreational marijuana distribution licenses, paving the way for other players within the marijuana industry to participate.
A judge has extended a temporary order that prevents the state from issuing distribution licenses to existing medical marijuana dispensaries so they can begin recreational sales July 1.
Licensed Nevada medical marijuana facilities in good standing with state agencies will be allowed to start recreational marijuana sales on July 1, according to the industry’s new state regulating body.