$2.3 Billion In State Tax Revenue From Marijuana Retail Sales by 2020 March 12, 2017
If all currently legal states for medical or adult use continue their projected growth, they could generate $2.3billion in state tax revenue from retail sales by 2020.
In 2017, states will generate $745million in taxes on retail sales, of which $609million will be from cannabis specific taxes and $136million from state sales taxes that are applied on all retail sales.
By 2020, tax revenues from cannabis will grow to $2.3billion of which $1.8billion will be from cannabis-specific taxes and $472million from state sales taxes.
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New Frontier Data presents The Cannabis Industry Annual Report: 2017 Legal Marijuana Outlook, the comprehensive guide to the U.S. legal cannabis market. Encompassing the sweeping legalization results of the 2016 Election, New Frontier Data's independent, technology-driven analytics is a critical resource for investors, operators, and policymakers in the legal cannabis industry.