Employees for Reef Dispensaries sets up irrigation drip systems for cannabis on Wednesday, Feb. 15, 2017. Photo by Jeff Scheid.
Despite a slight year-to-year dip, Nevada’s legal cannabis industry still reported nearly $1 billion in taxable sales over the last fiscal year, with a sizable chunk transferred to the state’s education budget.
This fiscal year’s $965 million in taxable funds is about a 4 percent decrease from the previous fiscal year which generated over $1 billion in taxable funds to the state, according to a press release issued Friday by the Cannabis Compliance Board, which regulates the legal marijuana industry in the state. The fiscal year ran from July 1, 2021, to June 30, 2022.
In part because marijuana sales skyrocketed during the pandemic, many experts correlated the drop in marijuana sales to COVID restrictions being lifted as well as other economic factors.
“Over the first part of the year, Nevada’s cannabis industry saw lower retail sales, a trend consistent with other mature cannabis marketplaces nationwide. While sales increased during the COVID-19 pandemic, cannabis businesses are not immune to the effects of inflation and lack of disposable income as consumers adjust their spending habits and priorities,” said Tiana Bohner, a spokesperson for the Nevada Cannabis Compliance Board, in an email to The Nevada Independent.
The $147 million headed to the state’s K-12 education budget comes from the 10 percent retail adult-use excise tax (which brought in $89 million) and a portion of the 15 percent wholesale tax for adult and medical use (which brought in $63 million). Besides education, the wholesale tax proceeds go to two additional funding pots, Bohner said. Local governments receive $5 million and the remainder goes to regulatory operations, such as the Cannabis Compliance Board.
The marijuana tax funds are among the revenue streams that feed the state education account and, ultimately, are redistributed to school districts through the Pupil-Centered Funding Plan. The PCFP, passed by the Legislature in 2019, modernizes the state’s 54-year-old funding formula, though whether its desired effects are happening won’t be known for a few more years.
The decrease in revenue, coupled with inflation and the increased taxes on the industry has left businesses and cannabis activists frustrated with a system they say already doesn’t work in their favor. Earlier this year, several cannabis businesses spoke out against what they perceived to be excessive fees for standard regulatory tasks and wholesale taxation formulas that don’t keep up with price changes.
Judah Zakalik, a chairman for cannabis company Congerium LLC, said in a phone interview with The Nevada Independent in July that the taxes give the black market a leg up over those running legal cannabis companies.
“I think if taxes are too high, that will just lead to prices going up which is going to lead to the black market thriving more,” Zakalik said. “That's tough because that's a competitor that we have as legitimate business people that is very difficult to compete with.”
— This story was used with permission of The Nevada Independent. Go here for updates to this and other Nevada Independent stories.
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Are you a graduating high school student interested in attending college free of tuition and class fees? The Nevada Promise Scholarship is a last-dollar scholarship that was established by the Nevada State Legislature in 2017.
The scholarship incorporates service learning and mentorship with academics, with the goal of increasing enrollment in higher education and improving overall student achievement, by eliminating financial barriers and allowing students to place greater emphasis on their education.
26-year-old Reid Jensen Williamson was arrested on DUI causing death and hit and run causing death after allegedly fleeing the scene after striking a pedestrian Thursday evening.
The crash took place just after 5 p.m. at S. Stewart and Little Lane, and Williamson was detained at Little Lane and Parkland Avenue just before 6 p.m.
The annual “White Cane Days” hosted by the Carson City Host Lions Club will be held Saturday, October 8 and Sunday, October 9. Lions will be available at the North Carson Street Save Mart from 10 to 4 each day to bring awareness to the public of the sight preservation programs the Lions support, and to raise funds as part of the annual White Cane Days.
Happy Friday Carson City! Let's take a look at what is happening throughout the region this weekend.
Lights, music, and lasers! The Floyd is returning Carson City this weekend at the Carson City Community Center.
Dubbed as "The West Coast's most sophisticated and authentic Pink Floyd Concert Experience," The Floyd brings the work of Pink Floyd to life with an immersive viewer experience.
What is there about Mark Twain that made him one of the most famous, beloved and prolific writers in the world?
So respected and beloved was he that countries around the world have celebrated his likeness and his books on stamps and coins and cities have remembered him through local celebrations and memorials.
Happy October and happy Nevada Day month my fellow Silver Staters. It's a wonderful time, full of changing leaves, pumpkin spice and the annual Nevada Day Treasure Hunt.
Clue four is here! I have some ideas, what about you?
UPDATE 6:47 p.m.: The victim has died from her injuries at Renown.
UPDATE 6:25 p.m.: According to the sheriff, it is now known that the victim suffered multiple broken bones and internal damage and is in a serious condition at Renown.
According to Sheriff Ken Furlong, a hit and run suspect is in custody after fleeing the scene of the accident.
The motorist allegedly struck the pedestrian near Stewart and Little Lane Thursday evening.
The Carson City Sheriff’s Office has been investigating a series of BB gun shootings to vehicles and houses during the month of September.
On Wednesday October 5 2022, detectives identified several juveniles alleged to have been involved in the bb gun shootings.
All aboard the Halloween Fairy Tale Express! The Carson City Railroad Association, in partnership with Wild Horse Productions, are bringing back the Halloween train ride at Mills Park in Carson City for Nevada Day weekend. The Halloween Fairy Tale Express will be pulling out of the station at Mills Park on Saturday, Oct. 29 and Sunday, Oct. 30.
The exhibition, Dancing for the Earth, Dancing for the People: Pow Wow Regalia and Art of the Great Basin at the Great Basin Native Artists Gallery inside the Stewart Indian School Cultural Center & Museum in Carson City will display contemporary pow wow dance regalia, photography, mixed media sculpture, Great Basin beadwork, digital graphic design and more.
This Friday, Oct. 7, at 5:30 p.m., support Carson High School's award-winning Blue Thunder Bands program as they host their annual family Chili/Bingo Night in the CHS gym. More than 100 businesses made donations this year, and the band is raffling off thousands of dollars' worth of prizes. They are also giving away prizes in their bingo games and auctioning off items in a silent auction.
Please join the Dayton Area Chamber of Commerce as we tour the William N. Pennington Dayton Clubhouse of the Boys & Girls Clubs of Mason Valley and check out the progress on the new playground - Thursday, October 20, 2022, 5:30pm - 7pm.
Happy October and happy Nevada Day month my fellow Silver Staters. It's a wonderful time, full of changing leaves, pumpkin spice and the annual Nevada Day Treasure Hunt.
Clue three is in! Have you guessed it yet? I’d be impressed if you did since I’m still scratching my head.
C.C. Top Music, Arts, & Beyond LLC is excited to welcome you to its store’s soft opening on Friday, Oct. 14 from 12 p.m. to 8 p.m.
CCTop is a unique store in north Carson City offering our customers a comfortable, pet-friendly shopping experience.
CARSON CITY — Nevada Department of Health and Human Services announced Wednesday that in coordination with Gov. Steve Sisolak and Attorney General Aaron Ford, a task force will be created to address the increasing rates of fatal and non-fatal overdoses.
The Greenhouse Project Board, Staff and Action Committee, extend a huge thank you to everyone who participated in our “Grateful Harvest Dinner 13 Years Strong,” Sept. 19 at Nashville Social Club, Carson City.
Carson City Symphony Association, beginning its 39th season, joins thousands of arts organizations and communities across the nation to celebrate National Arts and Humanities Month throughout October.
Despite a slight year-to-year dip, Nevada’s legal cannabis industry still reported nearly $1 billion in taxable sales over the last fiscal year, with a sizable chunk transferred to the state’s education budget.
Ogres-Holm Pottery Studio is hosting a Sgraffito Method Workshop Friday, Oct. 14, at the studio in the Carson City Mall. This workshop will take place from 5:30 - 8:30 p.m. and costs $85 per person. No prior pottery experience is necessary.
Carson City Fire Department and sheriff's deputies were called late Wednesday morning to a report of a possible arson in the 1100 block of Beverly Drive, the Autumn Village senior apartments.
Carson City voters will be asked whether or not to continue the five-cent per gallon diesel tax first implemented in 2020 to help fund road maintenance projects in the capital city which has long suffered pavement deterioration and huge funding deficits.
Happy October and happy Nevada Day month my fellow Silver Staters. It's a wonderful time, full of changing leaves, pumpkin spice and the annual Nevada Day Treasure Hunt.
We're onto the second clue - I have some guesses, what about you?
Nightly lane and shoulder closures will begin Sunday, Oct. 9 on U.S. 50 in eastern Carson City as the Nevada Department of Transportation reconstructs an existing walking and biking path for enhanced mobility and safety.
The Carson City School District is accepting applications from parents to fill one (1) parent vacancy on the district’s Family Life Advisory Committee.
The Carson City Sheriff's Office Youth Cadet program will be hosting its annual pancake breakfast fundraiser, this Saturday, Oct. 8th from 8 a.m. to noon at the Sheriffs Office; 911 East Musser Street.
Hello Carson City! Say hello to our newest pet of the week, Cream Puff!
The once Spicy now very sweet Cream Puff is in need of a happy home. Cream Puff first came to the Nevada Humane Society Carson City Animal Shelter as a kitten in March of 2020, and was adopted by a wonderful lady who loved him very, very much.
MAMMOTH LAKES, Calif. — The Carson Senator's Cycling cross country mountain bike team raced to a 4th place overall finish Monday at the High Sierra Showdown in Mammoth Lakes.
In 1946, a casino opened on the South Shore of Lake Tahoe that would go through several changes and owners as it expanded into what was most recently known as the Lakeside Inn and Casino.
Lyon County Sheriff's Office has initiated a Code Red response for a man reported missing in the Dayton area.
The Carson City Sheriff's Office booked five people into its detention center of the past few days for misdemeanor bench warrants.
Douglas County 4-H Information Night is Tuesday, Oct. 11, from 5:30-6:30 pm at the United Methodist Church on 1375 Centerville Lane, Gardnerville.
Come see what we have to offer. We have clubs in livestock, equestrian (with or without a horse), baking, hiking, shooting sports and more!
The Carson City Sheriff’s Office is seeking assistance in identifying persons of interest regarding credit card fraud.
Happy October and happy Nevada Day month my fellow Silver Staters. It's a wonderful time, full of changing leaves, pumpkin spice and the annual Nevada Day Treasure Hunt.
The first clue has arrived so let's jump right in!
The Carson High School Blue Thunder Marching Band won first place in the AA Band Division at the Galena Performance of Champions field show tournament in Reno this past weekend.
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These are some of the questions facing candidates for the Carson City Board of Supervisors, the governing body that oversees everything in the capital city from local ordinances to sign design.
If you are unable to ride a traditional two-wheeled mountain bike because of an injury or disability, perhaps a three-wheeled adaptive mountain bike is the ticket to get you out on the trails!
Recently we took a trip to Flathead Lake, Montana to visit friends. While there, we experienced an influx of large (almost 3/4-inch) nasty-looking bugs that descended upon us, literally, every afternoon. There were dozens on the deck, the railings, and any other surface available.
As Carson City seniors prepare for Medicare Open Enrollment, many need information about coverage, plans, and options to make the best, informed decision.
On September 27, 2022 at approximately 8:47 p.m., Lyon County Sheriff’s Office Deputies were dispatched to 100 block of King Court in Fernley for a missing person report. The family of Buddy Yoscovitch, 45, reported he had left home on Sept. 23, 2022 and had not returned home.
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