$1 billion in legal pot taxes predicted for California

$1 billion in legal pot taxes predicted for California

$1 billion in legal pot taxes predicted for California

(Photo by David Downs, all rights reserved)

California cannabis prohibition is costing the state about $1 billion per year in lost tax revenue that’s sorely needed for social services, a new analysis from the state’s Department of Finance reports this December 21.

Department of Finance director Michael Cohen and legislative analyst Mac Taylor reported to the Attorney General Kamala Harris this December that the state stands to gain over $1 billion in uncaptured tax…

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