Nevada's first month of pot sales nets $3.7 million taxes
{{#rendered}} {{/rendered}}State tax officials say the first month of legal sales of recreational marijuana in Nevada brought in more than $3.5 million in tax revenue.
Nevada Tax Department spokeswoman Stephanie Klapstein (KLAPP'-steen) told The Associated Press Thursday they are "good numbers" consistent with projections pot sales will generate $120 million in state taxes over the next two years.
The combination of a 15 percent wholesale and 10 percent retail tax raised $3.68 million in July, the first month of Nevada's fiscal year.
{{#rendered}} {{/rendered}}Some of that's headed to the state's rainy day fund. But the vast majority going forward is dedicated to schools.
Legal sales began July 1.
The $120 million biennial projection anticipates $5 million in monthly tax revenue. But Klapstein says state officials actually projected no revenue for July because of uncertainty surrounding licensing and local ordinances.