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LOS ANGELES (KABC) — If voters choose to legalize marijuana. the state will earn more than $1 billion in taxes when the market is fully operational. But the social cost of that revenue is too.
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If California voters back Proposition 64 to legalize marijuana in November, the state. 1 billion in weed-related revenue within a few years after legalization, the Los Angeles Times reported this.
A statement from the Colorado Department of Revenue published last Wednesday reveals that the state has collected more than $1 billion in revenue from taxes collected on marijuana products since the start of its recreational marijuana industry five years ago.
· Colorado has now generated more than $1B in total state revenue from the marijuana industry, another milestone for the state that legalized cannabis in 2014."It’s going very well. It’s.
States that legalized marijuana have a head start. Californians bought $2.5 billion in legal weed in 2018, generating $400 million in state revenue. Colorado dealers made $1.5 billion in sales. and.
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· The independent Legislative Analyst’s Office predicts Proposition 64 state tax revenues would total from the high hundreds of millions of dollars to more than $1 billion each year.
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The legal cannabis industry has given Colorado billions of dollars in state revenue which is a major legal marijuana milestone since its 2014 legalization in Colorado.. The big numbers posted by Colorado are visible: since the inception of the cannabis industry, there has been over $6 billion in sales.
· Sixty-four months after the first recreational stores opened on January 1, 2014, Colorado had collected over $1 billion in tax revenue for the sale of legal cannabis, according to the Colorado.
In all, nine states will consider marijuana-related ballot measures on Nov. 8, which could more than double the $7 billion market for pot products by 2020. “If this passes. State could eventually.
Legal marijuana has now earned over $1 billion in tax revenue for the state, according to the Colorado Department of Revenue.