Tax revenue may motivate other states to legalize cannabis
Sales taxes collected by states with legal cannabis programs totaled $10.4 billion as of December since the adult use market launched in 2014 in Colorado and Washington State, according to a study by The Marijuana Policy Project.
A report released Thursday by the pro-industry group said the $10.4 billion figure includes more than $3 billion in sales tax reported in 2021, thus far.
“States that have legalized cannabis for adults are reaping significant economic benefits,” said Karen O’Keefe, director of state policies at the Marijuana Policy Project.
The tax revenue helps fund education, school construction, early literacy, public libraries, behavioral health, alcohol and drug treatment, veterans’ services, conservation, job training, conviction expungement expenses, and community reinvestment.
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