Weed Brought In Millions Of Dollars In Extra Tax Revenue in 2018
Mon Jul 1 2019
While job creation has been one of the biggest economic benefits of marijuana legalization in the US States, Statista notes that tax revenue is quite another.
Out of the ten states plus Washington D.C. where marijuana is legal, seven currently tax and regulate their revenue-producing stores.
The taxes on those sales are typically 10 to 37% higher than the local sales tax which has allowed some states to bring in in hundreds of millions of extra dollars to fund things like social safety nets and education.
Washington had the highest tax revenue according to Leafly with an estimated $319 million, followed by California's $300 million and Colorado's $266 million.
While it always sucks to extra money, at least you are enjoying something you love and helping your local state out when you smoke so keep up the good work, fam.