Louisiana could earn as much as $128 million in annual revenue if it were to legalize and tax marijuana, according to a Washington, D.C., think tank’s new report.
The Tax Foundation, a nonprofit research organization most often described as conservative and pro-business, based its calculations on current demand for pot in Colorado and Washington, states that have authorized recreational use along with Oregon and Alaska. Ten more states have proposed ballot measures to legalize pot commerce, and Vermont’s legislature is considering one.
The report notes that Colorado, Oregon and Washington are moving to reduce taxes on marijuana after seeing that legalizing pot did not curb demand for “black market” purchases. They started with a 30 percent tax; Colorado’s will fall to 27 percent next summer, and Oregon’s will reach 17 percent by the end of this year. [Read more at the New Orleans Times-Picayune]
Your email address will not be published. Required fields are marked *
Name *
Email *
Website
Save my name, email, and website in this browser for the next time I comment.
Comment *
Notify me of follow-up comments by email.
Notify me of new posts by email.
Δ
By Hilary Bricken, Attorney at Husch Blackwell Dealing with creditors is never a fun experience. However, some creditors are more severe than others, especially in the cannabis industry. One of…
The long wait on whether Floridians will get a chance to vote to legalize recreational cannabis for adults 21 and older is almost over, as the Florida Supreme Court is…
Missouri’s health department on Wednesday stripped two coveted marijuana micro-licenses tied to an out-of-state company that had been accused of predatory practices and had listed the licenses for resale. The…
Big Island Grown (BIG) is a vertically integrated cannabis company based in Kailua-Kona, Hawaii County, on the Big Island of Hawaii, whose reach now extends to several islands in the…