slides: See How Legalized Marijuana Would Impact New England State Budgets
Wednesday, March 12, 2014
With many other states currently looking into marijuana legalization, GoLocal took the January data from Colorado and applied it to the six New England states to determine how significant--or insignifficant--the impact of marijuana tax revenue would be on state budgets. This was done by comparing Colorado's population to each of the New England's states, and based on Colorado's sales and tax rates, to reach a theoretical amount.
See the potential impact of recreational marijuana sales in the New England states in the slides below
Related Slideshow: Potential Revenue From Legalized Pot in NE States
Using Colorado as an example, GoLocal analyzed how much potential revenue each New England state could make--and how impactful that would be to the state budgets--by following the same path.
In Colorado, recreational marijuana sales are taxed through a 12.9 percent sales tax alond with a 15 percent excise tax.
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