Legal marijuana sales in the US generate more than $20 billion in taxes
- May 8, 2024
- 0
Since 2014, when sale of cannabis in the states of Colorado and Washington were created in USA over 20 billion dollars in taxesaccording to an analysis from the
Since 2014, when sale of cannabis in the states of Colorado and Washington were created in USA over 20 billion dollars in taxesaccording to an analysis from the Marijuana Policy Project (MPP) released this Wednesday.
At least 24 of the 50 EU states have legalized the possession of cannabis for people over 21 years of age. and the Washington, D.C.-based organization says that in just In the first quarter of this year, these states collected $4 billion. in taxes.
The report added.
In many states where the sale and use of marijuana for adults is legal, tax revenues are used to fund social services and programs.
A graph showing the amount of tax dollars generated annually from legal marijuana sales. | Photo: mpp.org.
According to WFP, the above includes funds for education, That construction of schools, public libraries, That psychiatric help, He alcohol addiction treatment And drugs, services for war veterans And professional education.
In Colorado, the state with the longest history of legalizing marijuana, tax collections in 2014, the first year decriminalization took effect, were $46.1 million. Accumulated amount Until 2023 it will be $2.381 million..
But the growth was not sustainable and Tax revenues down in Coloradoas reflected in $396 million 2021, 305 million in 2022 And 256 million from 2023.
Factors contributing to this decline include lower wholesale prices and the fact that the legalization of marijuana in more states has led to fewer marijuana visits by out-of-state users.
“Legalizing cannabis offers enormous financial benefits to state governments, social services and programs,” MPP said.
With the creation of regulated cannabis markets for adult use “State and local governments can collect sales taxes and reap the economic benefits of creating thousands of new jobs.”According to the organization.
In 2023 alone, legalization states generated more than $4 billion in tax revenue from adult-use cannabis sales, the most revenue generated from cannabis sales in a single year. To learn more, check out our new tax report! https://t.co/PIBn6kwVtg
— Marijuana Policy Project (@MarijuanaPolicy) May 8, 2024
EFE
Source: Aristegui Noticias
As an experienced journalist and author, Mary has been reporting on the latest news and trends for over 5 years. With a passion for uncovering the stories behind the headlines, Mary has earned a reputation as a trusted voice in the world of journalism. Her writing style is insightful, engaging and thought-provoking, as she takes a deep dive into the most pressing issues of our time.
