By Jordan Gesko
July 1, 2017, Nevada became the 8th state to sell legal recreational marijuana. Reportedly on day one, lines wrapped around the block to buy cannabis. Each person can have up to one ounce of flower and an eighth of concentrates. Now that marijuana is legal in Nevada, smoking it in public can still put you at risk of a $600 fine. Due to state casino and federal marijuana laws, dispensaries can not be located on the Las Vegas strip.
In the first four days of being legal, Nevada generated $3 million in sales and about $500,000 in tax revenue. The Nevada Dispensary Association estimates $30 million in sales revenue in the next six months. Depending on local regulations there is a 33 to 38 percent tax rate on recreational cannabis sales. Ten percent of the sales tax will go toward schools and the state’s reserve fund.
Public consumption might be an issue for tourists. As of now, you can only consume cannabis on private property. But the conversation for legal places where locals and tourists can smoke has begun and may change very soon. Starting January 1, 2018, residents will be able to grow six plants each. The state is limiting 12 plants per household, even if the household has more than two adults. This is a really exciting time for America. State by state the results of legalizing marijuana are super impressive. The states are providing facts about a legal marijuana market. More states are catching on to the trend and consider it being good in multiple ways.
I believe this is gonna help change the world once the federal government becomes part of the cannabis industry and taxes the hell out of it.