A recent analysis from the Tax Foundation, a Washington, D.C.-based nonprofit think tank, suggests that the nationwide legalization of cannabis across all states could significantly boost annual cannabis tax revenue, projecting it to reach $8.5 billion. The foundation proposes a comprehensive federal and state taxation model for cannabis, aiming to keep costs low to discourage illicit sales while advocating for higher tax rates on more potent marijuana products.
The current state-by-state approach to marijuana taxation, according to the report, is chaotic. Therefore, there is a need for a reevaluation of the…
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