A Billion Dollars; Pot taxes predicted for California from Adult Use Legalization

State of California’s Department of Finance recently delivered a report to California’s Attorney General Kamala Harris on the impact of marijuana adult use legalization in the state in terms of new revenues:

Net additional state and local tax revenues potentially ranging from the high hundreds of millions of dollars to over $1 billion annually related to the production and sale of marijuana. Most of these funds would be required to be spent for specific purposes such as substance use disorder education, prevention, and treatment.

The analysis also noted the expected reduction of costs for law enforcement:

Net reduced costs ranging from tens of millions of dollars to potentially exceeding $100 million annually to state and local governments related to enforcing certain marijuana-related offenses, handling the related criminal cases in the court system, and incarcerating and supervising certain marijuana offenders.

Link to text Adult Use of Marijuana Act.

By: Wesley