By Brett Bastello
What would you do with $3.1 billion dollars? Most likely anything you wanted. This amount is the annual projection that the United States stands to make off marijuana if it were legalized for recreational use and taxed throughout the country.
Community Tax took a look at the numbers behind taxed marijuana revenue and the numbers are certainly impressive.
There is no doubt about it when it comes to comparing the top cash crops in the United States; marijuana smokes the competition. With corn coming in second at $54.6 million, the numbers don’t lie. If recreational marijuana were to be legalized throughout the country, the U.S would see massive gains in profits.
California leads the pack in recreational marijuana sales, with their annual projected tax revenue reaching $519.3 million dollars. Additionally, seven other states exceed the $100 million dollar mark, annually. That sure is a lot of green.
In the first month of recreational sales alone, Washington, Colorado, and Oregon each earned at least $1 million dollars in new tax revenue ($1 million, $2.9 million and $3.48 million, respectively).
The taxes on marijuana are definitely ‘high’, but with the profits going towards school grants, education funds, youth mentoring services, and other programs that help the community, no one can deny the positive effect legalizing recreational marijuana has had in that states that have decided to give it the ‘green’ light.
See the numbers behind marijuana for yourself in the infographic below: