Go Green: Cannabis Sales Generate $159 Million for Nevada Students!
by Joe Grande
Credit: By Greg Haas, 8newsnow.com
The state of Nevada collects 10% of taxable retail sales of cannabis products and 15% of wholesale products.
According to state agencies, from June 1, 2020 to June 30th of this year more than 1 billion dollars of taxable cannabis products were sold.
This brought a total of $159 million into the Distributive School Account (DSA). These funds benefit students by providing more extracurricular activities, school materials, computers, equipment and sports uniforms.
Goverener Steve Sisolak first signed SB545 in 2019 directing 10% of revenue from taxable cannabis sales into the DSA. This brought over $92 million that year alone in tax revenue for schools.