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Marijuana Brought In Millions In Tax Revenue Last Year
03-30-2019, 03:19 PM,
#1
Marijuana Brought In Millions In Tax Revenue Last Year
Marijuana Brought In Millions In Tax Revenue Last Year

<p>Despite the fact that the Bureau of Labor Statistics does not track job creation in the U.S. marijuana industry, a recent report claimed that <strong>the sector has created around <a href="https://www.statista.com/chart/17447/new-jobs-added-in-the-us-cannabis-industry-by-state/">300,000 direct and indirect jobs</a> in the states where the drug has been given the green light for recreational use</strong>. While job creation has been one of the more noticeable economic benefits of <a href="https://www.statista.com/topics/3117/recreational-marijuana/">marijuana legalization</a> in the United States, <a href="https://www.statista.com/chart/17488/2018-tax-revenue-in-states-where-recreational-marijuana-use-is-legal/">Statista's Niall McCarthy notes</a> that <strong>tax revenue is quite another. </strong></p>

<p>Out of the ten states (and D.C.) where marijuana is legal, <strong>seven currently tax and regulate their revenue-producing stores.</strong></p>

<p>Those taxes are <strong>typically 10 to 37 percent higher than the local sales tax</strong> which has allowed some states to rake in hundreds of millions of dollars.</p>

<p><a href="https://www.statista.com/chart/17488/2018-tax-revenue-in-states-where-recreational-marijuana-use-is-legal/" title="Infographic: Marijuana Brought In Millions In Tax Revenue Last Year | Statista"><img alt="Infographic: Marijuana Brought In Millions In Tax Revenue Last Year | Statista" height="357" src="https://infographic.statista.com/normal/chartoftheday_17488_2018_tax_revenue_in_states_where_recreational_marijuana_use_is_legal_n.jpg" style="max-width: 960px;" width="502" /></a></p>

<p><em>You will find more infographics at <a href="https://www.statista.com/chartoftheday/">Statista</a></em></p>

<p><strong>Last year, Washington had the highest tax revenue <a href="https://d3atagt0rnqk7k.cloudfront.net/wp-content/uploads/2019/03/01141121/CANNABIS-JOBS-REPORT-FINAL-2.27.191.pdf">according to Leafly</a> with an estimated $319 million, followed by California's $300 million and Colorado's $266 million. </strong></p>

<p>When it comes to what that money is used for, the research says it <strong>goes towards school construction, drug abuse programs and medical research,</strong> among other areas.</p>

<p>A notable example of pot money being put to good use is a center for homelessness in Aurora, Colorado. $900,000 worth of marijuana tax revenue was invested in the Aurora Day Resource Center which was developed in an old police gym and supports the local homeless population with a range of basic but essential services.</p><img src="http://feeds.feedburner.com/~r/zerohedge/feed/~4/t4ReWoGFUCs" height="1" width="1" alt=""/>


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