Bloomberg: Cannabis Excise Tax Revenue Could Eclipse Alcohol Revenue in 2019

Excise tax revenue from marijuana sales is expected to surpass alcohol excise collections in 2019, according to the co-author of a new report.

Carl Davis, a research director at the Institute on Taxation and Economic Policy, noted in his report that state and local retail marijuana excise tax collections already rivaled alcohol tax collections in 2018.

Retail marijuana tax collections reached $1.04 billion in 2018, a 57 percent increase over 2017 levels, according to the Jan. 23 report, which argued the spike was driven partly by “the start of legal retail sales in California and partly by rapid growth in cannabis tax revenue in five other states reporting revenue data: Alaska, Colorado, Nevada, Oregon, and Washington State.” Read more

---