…State tax revenue is the main reason for legalizing the sale of medical and recreational marijuana. The U.S. cannabis market was worth an $11.3 billion in 2018 – and is expected to reach about $30 billion by 2025, according to the New Frontier Data.
Cannabis taxes vary greatly across states.
- The highest cannabis taxes are in Washington—a staggering 37%!
- The next one in line is Oregon, with 17%.
- California and Colorado follow with 15% each,
- while Maine is the fifth position with 10%.
Below is a look at the latest annual marijuana tax revenue by state where it is legal to sell.
In the case of the states where weed is not legal, the estimates are based on the average marijuana tax.
…If we take a look at the potential marijuana tax revenue by state (should the states which still haven’t legalized marijuana, legalize it), it is clear that all that money that’s right there for the taking can be used to significantly improve the lives of its citizens.