State Analysis Says a Marijuana Tax & Fee Would Raise $1.4 Billion
If marijuana were to be legalized for recreational use, it would raise nearly $1.4 billion for the California, announced a state tax board yesterday. The numbers were from an analysis of a bill, AB390, introduced earlier this year by San Francisco Assemblymember Tom Ammiano.
Under the legislation, which was originally estimated to raise around $1 billion, those aged 21 and over could purchase marijuana for recreational use. It would be sold with a $50 per ounce fee in addition to sales taxes. Based on that structure, here's what the California State Board of Equalization said in their report: