Tax Foundation: Arizona Could Bring In $113 Million From Marijuana Sales
Arizona could stand to bring in an extra $113 million a year if voters approve an initiative to legalize marijuana — and tax it at 15 percent.
That’s among the findings of a new report from the Tax Foundation, which looked at how much tax revenue Colorado and Washington state have brought in from pot sales, and applied that to other states, based on their populations.
Joe Henchman, vice president for State Projects at the Tax Foundation, talked how much money and revenue projections should factor into the decision whether or not to legalize marijuana.
Arizona voters may be deciding this fall whether or not to do that. A campaign to put the issue on the ballot has said it’s almost collected enough signatures to qualify.
Seth Leibsohn is chairman of Arizonans for Responsible Drug Policy, which opposes legalized marijuana. Leibsohn talked about study from the Tax Foundation.