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Home 🌿 Recreational Marijuana News 🌿 California Would Generate Over One Billion Dollars From Recreational Marijuana Taxes Per Year 🌿California Would Generate Over One Billion Dollars From Recreational Marijuana Taxes Per Year
I once heard an estimate that half of the marijuana industry in America is located in California. California was the first state to legalize medical marijuana, and while it has yet to legalize recreational marijuana, the medical marijuana industry in California is massive. The black market in California is also massive. According to the California Department of Finance, the taxes that the State of California would generate from a legal, regulated recreational marijuana market would top one billion dollars annually. Per SF Gate:
California cannabis prohibition is costing the state about $1 billion per year in lost tax revenue that’s sorely needed for social services, a new analysis from the state’s Department of Finance reports this December 21.
Department of Finance director Michael Cohen and legislative analyst Mac Taylor reported to the Attorney General Kamala Harris this December that the state stands to gain over $1 billion in uncaptured
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