New Frontier Data Projects U.S. Legal Cannabis Market to Grow to $24.1 Billion by 2025
March 9, 2017The Cannabis Industry Annual Report Webinar
March 19, 2017New Frontier Data Projects U.S. Legal Cannabis Market to Grow to $24.1 Billion by 2025
March 9, 2017The Cannabis Industry Annual Report Webinar
March 19, 2017
- If all currently legal states for medical or adult use continue their projected growth, they could generate $2.3 billion in state tax revenue from retail sales by 2020.
- In 2017, states will generate $745 million in taxes on retail sales, of which $609 million will be from cannabis specific taxes and $136 million from state sales taxes that are applied on all retail sales.
- By 2020, tax revenues from cannabis will grow to $2.3 billion of which $1.8 billion will be from cannabis-specific taxes and $472 million from state sales taxes.
