Cannabis By The Numbers: How Much Money Will States Bring in From Marijuana in 2016?

t’s been a pretty promising start for the marijuana industry across the United States.

We’re almost halfway through 2016, and marijuana tax collections in Colorado and Washington have exceeded initial estimates.

For instance, Colorado’s cannabis industry brought in more than $270 million in the first quarter of 2016 alone.

New analysis from the Tax Foundation found nationwide legalization of marijuana could generate up to $28 billion in tax revenues for federal, state, and local governments.

That includes $7 billion in federal revenue, $5.5 billion from business taxes, and $1.5 billion from income and payroll taxes, the report outlined.

Colorado’s recreational marijuana industry has longtime been the poster child for pot profit. As Washington and Oregon chime in to flaunt tax revenue from marijuana sales, there’s a great chance that other states will start to follow suit.

Alaska and the District of Columbia, where marijuana has been fully legalized for recreational purposes, are also showing strong signs for a profitable year in its new, but fast growing cannabis industry.

To read more: https://www.merryjane.com/news/cannabis-by-the-numbers-how-much-money-will-states-bring-in-from-marijuana-in-2016

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