Marijuana Brought In Millions In Tax Revenue Last Year

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Despite the fact that the Bureau of Labor Statistics does not track job creation in the U.S. marijuana industry, a recent report claimed that the sector has created around 300,000 direct and indirect jobs in the states where the drug has been given the green light for recreational use. While job creation has been one of the more noticeable economic benefits of marijuana legalization in the United States, tax revenue is quite another.

Out of the ten states (and D.C.) where marijuana is legal, seven currently tax and regulate their revenue-producing stores. Those taxes are typically 10 to 37 percent higher than the local sales tax which has allowed some states to rake in hundreds of millions of dollars. Last year, Washington had the highest tax revenue according to Leafly with an estimated $319 million, followed by California’s $300 million and Colorado’s $266 million. …

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