Nevada pot sales set another monthly record in May

Associated Press | Reno Gazette-Journal

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RENO — Legal marijuana sales in Nevada set another monthly record in May and are approaching the $500 million mark for the fiscal year.

The Nevada Department of Taxation said Thursday the $7.11 million in tax revenue from pot sales for medical and recreational use in May topped the previous monthly high of $7.09 million in March.

Tax collections for the first 11 months of the fiscal year now total $62.6 million. That's 25 percent more than was projected for the entire fiscal year with June collections still outstanding.

Overall taxable sales have reached $481.4 million and should exceed $500 million by the end of June. More than $384 million of that is from recreational sales.

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Based on sales to date, Tax Director Bill Anderson says all indications are the trend will continue in June and into the next fiscal year.