Where does Nevada’s cannabis tax revenue go?

When Nevada legalized recreational marijuana the amount of tax revenue in their first full year of sales was 140% more than what they had predicted. Of this 69.8 million of tax revenue 27.5 million went towards improving school facilities. However, many skeptics feel that 42.5 million of this revenue going towards the state’s rainy day fund is too much and should be injected back into the state in some way rather than being withheld.

  • $27.5M Went to the Distributive School Account (27.3m from wholesale sales + application and licensing fees)
  • $42.5M went to Nevada’s rainy day fund.

Source: https://tax.nv.gov/uploadedFiles/taxnvgov/Content/TaxLibrary/News-Release-June-Marijuana.pdf

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