Posted by Staff Writer on 7/2/2017 to Marijuana Startups
IncSmart Nevada (Small Business and Startups) - Long lines of locals and tourists alike great the owners of dispensaries on the first day of recreational marijuana sales. Saturday, June 1st, Nevada joined five other states to sale marijuana. It still remains illegal to consume it in public, including the Las Vegas Strip, hotels and casino floors, but this did not stop consumers in the entertainment capital of the world. Marijuana is expected to generate $60 million in tax revenue the next two years. Voters approved legalization in November 2016, making Nevada’s the fastest turnaround ballot box to retail sales in US history.
The Las Vegas market that is expected to grow faster than all others cities because of the millions of visitors who flock to Las Vegas each year. As of Friday, Nevada licensed 44 dispensaries to marijuana. Thirty nine of these shops are in Las Vegas. The Dispensaries opened midnight and provided later provided free water, live music, valet parking, while customers waited in line 40 minutes. People who are 21 and older, and have a valid ID can buy up to an ounce of cannabis. Tourists are expected to make two of every three purchases of recreational pot in Nevada. With every purchase, 33 cents is going to taxes. This is the most heavily taxed and regulated industry in the state.
By IncSmart Staff Writer
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