Legalizing Cannabis Would Result in $1 Billion in Annual Tax Revenue for California

marijuana-money-live-trading-newsLegalizing recreational cannabis in California would result in roughly $1 billion in extra tax revenue for the state, according to a new analysis released by the California Department of Finance.

The report, conducted by Department of Finance director Michael Cohen and legislative analyst Mac Taylor and reported to Attorney General Kamala Harris, states that California stands to gain around $1 billion in tax revenue if voters approved an initiative to legalize cannabis that advocates are hoping to place on this November’s ballot.

Read moreLegalizing Cannabis Would Result in $1 Billion in Annual Tax Revenue for California