The fifth state to make cannabis legal recreationally is off to a fantastic start. After only four days of allowing the sale of weed in the state, the Nevada Dispensary Association has revealed that Nevada has seen around $500,000 in tax revenue and the sales have produced about $3 million in sales revenue.
According to the association, Nevada is on track to making an estimated $30 million in recreational marijuana sales revenue throughout the next six months.
The association monitored the sales from Saturday July 1st, the first day sales were allowed, up until Tuesday, July 4th.
The state has a tax rate for recreational marijuana that ranges from 33 to 38%.
“We had a higher demand than everybody initially thought,” Nevada Dispensary Association Director Riana Durrett told The Las Vegas Sun. “It shows this market really exists.”