Nevada’s 1st year of pot sales beats forecast by 40 percent

RENO, Nev. (AP) — The first full year of legal marijuana sales in Nevada exceeded expectations by 40 percent, state tax officials said Tuesday.

Taxable pot sales statewide totaled $529.9 million and raised nearly $70 million in tax revenue, including $27.5 million for schools, the Nevada Department of Taxation said.

Adult sales that first became legal on July 1, 2017, accounted for about 80 percent of that figure and sales for medical use made up about 20 percent of the total for the fiscal year that ended June 30.

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