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Study: AZ Legalization Could Bring $113 Million in Taxes

Arizona Recreational Marijuana Legalization

A new study conducted by the non-partisan Tax Foundation suggests that Arizona could receive up to $113 million from tax revenue from recreational marijuana sales. If the state’s voters approve recreational marijuana legalization on November’s ballots, these numbers could become a reality for the state. The tax on recreational marijuana sales would likely be set at flat 15 percent.

The Campaign to Regulate Marijuana Like Alcohol is petitioning for voter support in marijuana legalization, reports AZ Central. Tax dollars from recreational sales would help fund public health issues across the state, full-day kindergarten options, and other education programs. If the recreational marijuana measure passes, adults 21 and older could possess up to 1 ounce of marijuana and grow up to 6 plants at home.

Regulatory language includes provisions for the creation of the Department of Marijuana Licenses and Control. This organization would regulate cultivation, testing, transport, sales and manufacturing.

Additional information from the study suggests that nationwide legalization taxed at a flat 15 percent could raise $5.3 billion dollars in taxes nationwide.

“While ending prohibition is the No. 1 reason to legalize marijuana use for adults, providing tens of millions of dollars for schools and local governments is a significant bonus for voters. These are dollars that no longer go to drug cartels but instead help our schools and local governments provide important services,” stated a marijuana supporter.