Nevada is among the largest marijuana markets in the United States, with many large multistate operators having extensive operations in the state. So it’s valuable to track the amount and growth rate of the state’s published marijuana sales and tax data.
Nevada is the next installment in our new series analyzing the various cannabis data sets published by states (Florida data can be found here). Our goal is to assemble and analyze state sales and tax data to spot emerging trends to benefit your portfolio as well as any warning flags to protect your portfolio.
Nevada reports five data points on a statewide basis as well as the counties of Clark and Washoe. The data points are:
- Wholesale excise tax.
- Retail excise tax.
- Total excise tax.
- Taxable sales.
- Application, license and other fees.
Nevada has experienced relatively consistent, mid-20% year-over-year sales growth with the exception of March and April, which experienced a sharp rise and drop in growth rate. Those months were an anomaly, and the state’s sales data immediately resumed 20% to 30% growth rates.
One caveat to note is that the Nevada data lags by several months, so it’s not as timely as the Florida state data that is published on a weekly basis.
Below is a chart of total taxable sales in dollars and year-over-year percentage growth rate.
You can view all the data in this downloadable spreadsheet, which contains the raw data as well as an interactive charting function that allows you to choose which data series and county (or state total) you want to analyze.