CCB/DoT Release Annual Cannabis Taxable Sales Data - FY 22
September 30, 2022
Together with the Nevada Cannabis Compliance Board (CCB), the Nevada Department of Taxation (DoT) released figures showing more than $965 million in taxable sales reported by Nevada’s legal cannabis industry over a 12-month period.
During Fiscal Year 22 (July 1, 2021 – June 30, 2022), licensed adult-use cannabis retail stores and medical dispensaries generated $965,091,123 in taxable sales. This is a decrease of roughly 4% as compared to over $1 billion in taxable sales from FY 21. The majority of sales were conducted in Clark County and unincorporated cities in Southern Nevada.
|TAXABLE SALES||FISCAL YEAR 22|
|Taxable Sales Reported by Adult-Use Retail Stores and Medical Dispensaries||$965,091,123|
|All Other Counties||$83,875,657|
|EXCISE TAXES||FISCAL YEAR 22|
|State Wholesale Cannabis Excise Tax|
(15% Rate – Adult-Use and Medical)
|State Retail Cannabis Excise Tax|
(10% Rate – Adult-Use)
NRS 372A.290 directs all revenue from the 10-percent State Retail Cannabis Excise Tax into the State Education Fund (SEF), formerly the Distributive School Account (DSA). Additionally, with the exclusion of operating costs, the CCB transfers combined revenue from the State Wholesale Cannabis Excise Tax, along with civil penalties, licensing and other fees collected through regulation of the cannabis industry.
Additional Links & Information:
The DoT is responsible for the fair, efficient, and effective administration of tax programs for the State of Nevada.
The CCB is responsible for strictly regulating all persons, locations, practices, associations, and activities related to the operations of cannabis establishments in this state. The CCB officially began regulating Nevada’s cannabis industry on July 1, 2020.
Download PDF, here.