You read THAT right….
And the state of Arizona is gonna make MORE than $75 Million in taxes from legal marijuana sales….
And THAT is why some states have moved to decriminalise recreational sales of weed…
Arizona is on track to outpace Colorado in marijuana sales just months after it became legal for recreational use in the Copper State, with total annual sales expected to surpass $1 billion by the end of this year, according to state data.
The Arizona Department of Revenue in its latest report on marijuana revenue revealed that total sales have nearly doubled since January, when the recreational sale of marijuana to anyone 21 and older officially became legal in the state.
The state collected about $75 million in taxes this year from both medical and recreational marijuana sales from January to May, according to a review of the state data by the Arizona Republic. …
Comparatively, Colorado reported about $684 million in total marijuana sales in 2014, the first year the state had both medical and recreational use legalized.
The Colorado Department of Revenue reported that in 2020, Colorado had a total of roughly $2.2 million in medical and recreational marijuana sales.
A May report from the pro-legalization group the Marijuana Policy Project found that since Washington and Colorado became the first states to legalize recreational pot in 2014, states have collected a total of $7.9 billion in tax revenue from recreational sales alone.
According to the report, California has become the largest legal marijuana market, recording more than $1 billion from recreational marijuana taxes in 2020….