Nevada marijuana sales blow away projections in first year

Nevada dispensaries sold nearly $425 million worth of recreational marijuana and pulled in nearly $70 million in tax revenue in the state’s first full year of sales, officials announced. Including recreational and medical marijuana as well as marijuana-related goods and accessories, Nevada stores eclipsed a half-billion dollars in sales, just under $530 million, according to figures released Tuesday by the Nevada Department of Taxation.That dwarfs first-year sales seen in other states, and significantly outpaced Nevada’s own projections for the budding industry.Bill Anderson, executive director of the Tax Department, said that the industry “has not only exceeded revenue expectations, but proven to be a largely successful one from a regulatory standpoint.”