Thought it’d be a good day to send out a reminder that legal marijuana is very good business for states.
The latest example comes from Missouri. Last year, when Missouri legalized marijuana, they had projected $40 million annually for the state, and $13.8 million for local governments through tax revenue. Instead, the year reached $143 million for the state as a whole and $97 million for local governments. That’s more than three times the estimate.
“When Missourians choose to purchase cannabis from a legal, regulated dispensary, they not only know the product is safe, lab-tested and grown right here in Missouri, they are also helping generate hundreds of millions in revenue each year, supporting everyone from Missouri veterans to public school students to local communities,” says Andrew Mullins, Executive Director of the Missouri Cannabis Trade Association.
These figures don’t even include an extra 3% of sales tax at a local level that was added to many sales this year because it was struck down by the Eastern District Court of Appeals in Missouri for being unconstitutional. That number would certainly raise the number by tens of millions.
No doubt Missouri will be all-in on marijuana after seeing how lucrative its first year ended up being. Now it just needs to pass on the info to its neighbors.
Read more at Ozark Radio News.
