Companies and Brands
Marijuana Taxes Could Reach $28 Billion
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What would a mature, legal marijuana market yield in federal, state and local taxes? About $28 billion per annum, according to the Tax Foundation. The information is in its new study, Marijuana Legalization and Taxes: Federal Revenue Impact.
Some of the major findings:
According to the Colorado Department of Revenue, taxes on pot yielded $13 million in March, up 31% from the same month last year. For the state’s fiscal year, tax revenue reached $125 million through March, up 54% from the same period the year before. If one moderate-sized state in terms of population and gross domestic product can yield $200 million, the Tax Foundation forecast is not wild.
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