Marijuana Business Magazine October 2018

Nevada State officials reported cannabis revenue in the fiscal year ending June 30 totaled $529.9 million, including $424.9 million for recreational sales alone. According to the state, marijuana tax revenue for the first full year of adult-use sales totaled $69.8 million – about 140% of expectations – with the last four months of the fiscal year particularly robust. “Nevada’s first year with a legal adult- use market has not only exceeded revenue expectations but proven to be a largely successful one from a regulatory standpoint,” said Bill Anderson, executive director of the Nevada Department of Taxation. New Mexico A medical marijuana producer with dispensaries in Las Cruces and Albuquerque is reportedly the first in the state to have its license revoked for allegedly falsifying audits to the health department. Health Secretary Lynn Gallagher rescinded the license of Mother Earth Herbs and permanently banned the cultivation company’s president and executive director, Vivian Moore, from working in any capacity for a medical cannabis licensee. Moore and Mother Earth Herbs, which had been operating since 2010, can challenge Gallagher’s actions in state court. www.kannamill.com | techsales@kannamill.com | 1-800-447-4634 Improved efficiency and better yield for processing cannabis and industrial hemp 28 • Marijuana Business Magazine • October 2018