January 23, 2019

Politico Morning Tax: The Broad View on Pot

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There’s been plenty of coverage of states legalizing recreational marijuana and then overestimating how much revenue they’ll see. But a new report from the liberal Institute on Taxation and Economic Policy notes that while legalized pot will likely never be the central component of a state’s revenue stream, there’s still plenty of potential there. For instance: Excise tax collections on legal marijuana broke $1 billion in 2018, putting it in the same ballpark as alcohol taxes — with revenues from marijuana actually outpacing alcohol in both Colorado and Nevada. Read more



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