CBD Guide
  • Home
  • Education
  • Guides
  • Reviews
  • News
No Result
View All Result
  • Home
  • Education
  • Guides
  • Reviews
  • News
No Result
View All Result
CBD Guide
No Result
View All Result
Home News

Report: Nevada Cannabis Sales Up 20% from 2018-2019

Jean Martinez by Jean Martinez
May 25, 2020
in News
0 0
0
Report: Nevada Cannabis Sales Up 20% from 2018-2019
175
SHARES
0
VIEWS
Share on FacebookShare on Twitter

Nevada cannabis sales saw a 20 percent increase from fiscal year 2018 to 2019, reaching $692 million, according to an RCG Economics report commissioned by the Nevada Dispensary Association. The state collected $172 million from cannabis-derived excise and sales taxes, and industry licensing fees.

The report estimates that there are 8,200 jobs in Nevada working directly in licensed cannabusinesses and another 2,000 jobs created by the ancillary industry.

Riana Durrett, executive director of the NDA said that while the coronavirus pandemic “may result in lower than projected sales and collections” the figures are “helpful to know what the industry is capable of accomplishing and contributing to the state, given the right conditions.”

John Restrepo, the economist that prepared the report, opined that, in the cannabis space, “supply and demand is less of a factor than regulatory conditions.”

“The cannabis industry can be greatly impacted by the tax and licensing structure and the illegal market, and missteps in overtaxing or overregulation can drive people into the illegal market and reduce tax revenue, unlike many other industries.” – Restrepo in a statement

The report estimates that by 2024, Nevada sales could total $956 million leading to state tax and fee collections of $327 million under current regulatory conditions.

The authors note that the report was prepared – and its projections based on – pre-coronavirus conditions and the projections “would likely fall short, especially given a drop in tourism and loss of sales in March and April,” which are “typically big sales months for Nevada dispensaries.”

Both medical and adult-use dispensaries in Nevada were allowed to remain open during the state’s stay-at-home order albeit with social distancing protocols in place.

This content has been curated and re-published from Ganjaprenuer.com. Please click the link below to view this content from the original source.

Original Source: Report: Nevada Cannabis Sales Up 20% from 2018-2019

Content Credits: Originally written by TG Branfalt and published to Ganjaprenuer.com on 2020-05-22 15:15:41.

Previous Post

Aurora to Acquire U.S. Hemp Company with 2nd-Largest CBD Market Share

Next Post

Judge Rules Company Must Forfeit Confiscated Hemp

Related Posts

Wyoming Tribe Moves Toward Hemp and Medical Cannabis Legalization
News

Wyoming Tribe Moves Toward Hemp and Medical Cannabis Legalization

August 31, 2020
Oklahoma to Revoke Testing Lab’s License Amid Scandal
News

Oklahoma to Revoke Testing Lab’s License Amid Scandal

August 30, 2020
Hemp-Based Burger Announced by Fake Meat Startup
News

Hemp-Based Burger Announced by Fake Meat Startup

August 29, 2020
Florida Adds Edibles to Medical Cannabis Program
News

Florida Adds Edibles to Medical Cannabis Program

August 28, 2020
Most Legal Marijuana States Had Fewer Vaping-Related Lung Injuries, Study Finds
Learn About CBD

Most Legal Marijuana States Had Fewer Vaping-Related Lung Injuries, Study Finds

August 27, 2020
Mitch McConnell Recommends Hemp-Based Face Masks
News

Mitch McConnell Recommends Hemp-Based Face Masks

August 27, 2020
Next Post
Judge Rules Company Must Forfeit Confiscated Hemp

Judge Rules Company Must Forfeit Confiscated Hemp

Subscribe
Login
Notify of
guest
guest
0 Comments
Inline Feedbacks
View all comments

Recent Posts

  • Wyoming Tribe Moves Toward Hemp and Medical Cannabis Legalization
  • Oklahoma to Revoke Testing Lab’s License Amid Scandal
  • Hemp-Based Burger Announced by Fake Meat Startup
  • Florida Adds Edibles to Medical Cannabis Program
  • Most Legal Marijuana States Had Fewer Vaping-Related Lung Injuries, Study Finds

Recent Comments

  • Jean Martinez on Colorado Gov. Signs Cannabis Social Equity Bill
  • kiran on Colorado Gov. Signs Cannabis Social Equity Bill

Archives

  • August 2020
  • July 2020
  • June 2020
  • May 2020
  • April 2020
  • March 2020
  • February 2020
  • January 2020
  • December 2019
CBD Guide

© 2020 CBDGuide.io, All Rights Reserved.

Site Navigation

  • Affiliate Disclaimer
  • Privacy Policy
  • Terms of Use
  • Contact us

Follow Us

No Result
View All Result
  • Home
  • Education
  • Guides
  • Reviews
  • News

© 2020 CBDGuide.io, All Rights Reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
0
0
Would love your thoughts, please comment.x
()
x
| Reply