Ohio stands to collect $123 million annually from sales and excise taxes on weed.
- Staff Dayton Business Journal
Legalizing marijuana would roll in some big dollars to the state of Ohio. That’s the finding from consumer finance Web site NerdWallet, which released a nationwide study showing the economic impact of legalization of marijuana
The report examines if businesses were permitted to sell marijuana legally and governments could tax it as a consumer product.
Ohio stands to collect $123 million annually from sales and excise taxes on weed. Ohio has roughly 419,000 marijuana smokers, the report says, and represents 4 percent of the U.S. marijuana marketplace.
The report’s findings are based on initial data from legalization efforts in Colorado and Washington. Since marijuana use is illegal in most states, it is difficult to gauge what the potential market size would be in each of the states, NerdWallet officials admit.
Click here for the full report.
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