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Within a week of Nevada legalising marijuana stores run out of stock
Although, it's just been a week since marijuana was legalised in Nevada, the state has already run out of supplies. The sale of marijuana was made legal in the state on July 1.

As per a report in USA Today, the demand has been such that the Governor of the state has endorsed the state tax department's Statement of Emergency to tackle the issue.

The government of Nevada has authorised dispensaries to sell recreational marijuana.

When the state was legalising recreational marijuana in November last year, it had promised wholesale alcohol distributors that they would be given exclusive rights to transport wholesale marijuana. But such an exclusive license was valid for the first 18 months of legal sales only.

The taxation department had considered widening the ambit of authorised sellers but the matter has been pending in the court. Also, various reports have suggested that seven liquor dealers had applied for licenses to sell marijuana but none of them met the necessary requirements. And the 47 retail stores that have been authorised to sell marijuana recorded well above 40,000 purchases on just the last weekend.

As per reports, the Nevada Dispensary Association estimated that dispensaries earned approximately $3 million in sales of marijuana. Also, the state was able to earn about $1 million in tax revenue between July 1 and July 4.

The state of Nevada has laws that enforce, that of the total revenue collected from the cultivation tax, 15 per cent of it would have to go towards toward schools. Also, 10 per cent sales tax revenue has to be contributed towards the state's rainy day fund.

The implications of legalising marijuana are yet to be seen but for Nevada, the first problem is to solve the demand and supply issue.

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