Voters in Washington made marijuana legal for adults in 2012, but they could not purchase marijuana in regulated retail stores until mid-2014. Since then, the legal industry has been raking in money for the state, in addition to providing jobs and depriving criminals of profits.
Reuters reports:
Washington state took in $65 million in tax revenue from the recreational marijuana market during the first 12 months since it became legal to produce and sell, according to data released by state regulators…
According to a report acquired by the Phoenix New Times, Arizona stands to gain $48 million in tax revenue annually by regulating marijuana like alcohol:
The Joint Legislative Budget Committee produced a report in September on the estimated impact of legal marijuana, but didn't release the data publicly. New Times obtained a copy of the report this morning.
Prepared in response to a legalization bill proposed earlier this year by a group of Democrats, the JLBC report shows that Arizona could enjoy…
A report released yesterday by Rhode Island-based OpenDoors estimates that passage of the Marijuana Regulation, Control, and Taxation Act will generate between $21.5 to $82 million in annual tax revenue. Although it would not completely solve Rhode Island’s budget woes, revenue from legal sales of marijuana to adults could help ease the financial burdens the state is facing.
Every day across Rhode Island, otherwise law-abiding men and women purchase and consume marijuana illegally. Proceeds from…
After years of lobbying by MPP, patients, physicians, and other allies, New York State may finally be on the verge of passing a medical marijuana law.
A Senate budget resolution that passed last night includes a provision that supports including the legal sale of medical marijuana in the state budget. We hope that as the budget process continues, this language will also be included in the final legislation and will be passed as part of the budget process.
Senate Democrats estimate that licensing…
Utah’s lawmakers are getting a little desperate in their search to alleviate the state’s $700 million budget shortfall. One in particular, state Sen. Chris Buttars, is now proposing that Utah cut costs by eliminating the 12th grade, or at least giving students the option of skipping their senior year of high school.
Well, I have a better idea for how Utah could bring in new revenue and keep kids in the classroom at the same time.
If Utah really wants to rake in the big bucks, the state should tax…
Those of us feeling perturbed by the recent parade of California officials trying to undermine that state’s medical marijuana laws might find comfort in the recent trends of another medical marijuana state: Colorado.
After 53% of voters in the Centennial State approved a medical marijuana amendment in November 2000, Colorado has quietly emerged as a potential model for how states can responsibly and competently oversee the establishment of a medical marijuana industry.
There are currently more than…