‘There is no standard cannabis tax in the U.S. the way there is an alcohol tax, cigarette tax and gas tax’.
With every new year, legal cannabis states provide support that the plant is a good source of income.
Indeed, in fiscal year 2022, the states of Washington and Colorado had more revenue from cannabis sales than from alcohol or cigarettes.
These numbers were recently published by the Tax Policy Center.
In all, the group reported that “19 states now have enacted taxes on recreational marijuana purchases, but the tax regimes vary quite a bit.”
The tweet adds, however, “Over time, states can collect a significant amount of revenue, and Colorado and Washington collected more from taxes on cannabis than alcohol or cigarettes in 2022.”
(Originally posted by Cannabis News)