Taxing Retail Marijuana Sales Nationwide Could Yield $28 Billion

WASHINGTON, DC — The imposition of conventional tax rates on the commercial production and retail sale of cannabis nationwide would yield an estimated $28 billion in federal, state, and local tax revenue, according to an analysis provided by The Tax Foundation – an independent think-tank based in Washington, DC.

The bulk of the new revenue, $20.5 billion, would be directed toward the states through the collection of excise taxes, sales taxes, and income taxes. The balance of revenue would be collected in federal excise and income…