USA. The Tax Policy Center reveals that both Colorado and Washington received more revenue from legal #cannabis sales than from alcohol or cigarettes this year. Canna Buzz – CLEAR Cannabis Law Reform. @CLEARUK
A new report from the Tax Policy Center shows that Colorado cannabis tax earnings were seven times higher than alcohol, and Washington earned $559 million from cannabis-related taxes. Although these two states had the highest tax revenue from the plant, they were not the only ones where marijuana sales outpaced other prevalent taxable vices. Data from this new report on cannabis tax revenues indicate that cannabis markets continue to expand across the United States, regularly outpacing alcohol and cigarette tax revenues. KIARA TAYLOR – Hightimes. 20 DE OUTUBRO DE 2022
Nineteen states currently have cannabis tax legislation in place, helping to increase funding for state programs and reducing the number of black market sales. Despite the elevated state tax earnings from marijuana sales, cannabis legalization is slow-moving in over half of the United States. Because of a lack of federal regulation, it is up to each state to decide on a tax structure and how those taxes will be allocated, unlike alcohol and cigarettes.
Alcohol, cigarette, and gas taxes also contribute to state funds, but federal agencies regulate them. Due to a lack of regulation, different states enforce different marijuana taxes, and some leverage multiple taxes on medical or recreational products.
Not only do legalized states make significant revenue from cannabis sales, but the data also points toward the decreased consumption of substances, including alcohol and cigarettes.
Another study out of Florida made some interesting findings about the effects of medical marijuana. According to medical marijuana patients, they are far less likely to use opioids for pain management. Other respondents indicated that medical cannabis relieved symptoms of other diseases like PTSD, chronic pain, and anxiety.
Colorado and Washington are prime examples because of their high earnings and are home to two of the most mature cannabis markets in the United States.
And while plant prices by weight are falling, there is evidence that cannabis use is expected to increase over time, eliminating the deadly and costly effects of alcohol and cigarette use.
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