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Nevada residents voted yes by about 55% to legalizing marijuana in November 2016. The Marijuana Policy Project backed this initiative, which required the state to initiate sales by 2018. But due to the tax commission adopting temporary regulations, Nevada cannabis users will be able to purchase marijuana 6 months early!
Beginning at 12:01 a.m. July 1, consumers 21 and older will be able to buy up to an ounce of marijuana, or one-eighth of an ounce in marijuana-infused edibles and concentrates.
“Adults will now be able to purchase marijuana similarly to how they purchase alcohol, from regulated businesses rather than criminals in the illegal market,” said Mason Tvert, communications director for the Marijuana Policy Project, in a statement. “Tens of millions of visitors per year from all over the U.S. and around the world will see firsthand that regulating marijuana works.”
These marijuana sales will be taxed 10% which is expected to bring in more than $60 million in the first two years. We have already seen how the revenue from marijuana sales has helped save small towns on the verge of bankruptcy in states that it is legal like Oregon and Colorado. Last year in Colorado, one of the country's first test markets for recreational marijuana laws, pulled in $1.3 billion in revenue and nearly $200 million in tax revenue.
Nevada will the 5th state to legalize the recreational use of marijuana and will join Colorado, Oregon, Washington and Alaska. The other states Maine, Massachusetts and California who also voted to legalize recreational cannabis in the November election are expected to join sometime in 2018. That will make the entire West Coast “green” along with 29 other states, as well as the District of Columbia, to have some form of legal marijuana market.
We are making progress in the fight against the marijuana prohibition. Hopefully the government will follow in these state’s footsteps.