Bringing in the Green: Projected Tax Revenue if Marijuana Legislation Passes

Turbo Tax has created an interactive comparison of projected tax revenues should marijuana decriminalization laws pass, such as I-502 in Washington.

Today, the states of Washington, Colorado, and Oregon take decriminalization of non-medicinal marijuana to vote. 

The state initiatives in these four states (Initiative 502 in Washington) would allow adults over 21 to buy taxed, inspected marijuana at state-licensed shops. Turbo Tax visualizes how much state tax revenue these initiatives would generate based on usage, and show you how much already legal medical marijuana impacts the 17 states where it is allowed.

Follow this link to check out Turbo Tax's interactive feature and compare Washington's projected $22 million in revenue with other states.

Do you think the $22 million projected sales tax revenue for Washington is worth the risk of potential negative effects?

michael HALL November 06, 2012 at 04:52 PM
weed is going to make us a lot of tax money, when you use weedyou don't like to fight you just want to relax and take life easy
Jesse Ray November 06, 2012 at 09:12 PM
I'm doubtful the government will be able to "tightly regulate and tax" a literal weed that can grow anywhere... This law will only encourage increased experimentation with marijuana while providing law enforcement a stronger ability to convict DUI suspects. According to the Seattle Times article, it is possible that current legal medicinal users depending on their usage will not ever be considered "legal" to drive under the statute this law would create (5 nanogram limit). http://seattletimes.com/html/politics/2019541405_potdui28m.html I believe its safe to say further research is needed to determine an appropriate way to test for and describe pot "intoxication." Due to the nature of police and law enforcement persons, I suspect testing for "stoned drivers" will increase with the passage of this law especially now that officers are able to suppliment their gut feelings (IE. red eyes, sleepy looking driver, you name it) with a blood test that will "prove intoxication" in the individual. Ultimately this law may catch many "innocent" regular users, especially those in the medicinal use category, who have developed this lifestyle in part due to the rising social acceptance of pot. FYI - In Holland, Marijuana is still illegal. Something called "De Facto Legalization," which literally means even though it is still illegal, the police do NOT ENFORCE those laws in practice. If anything, under the guise of legalization the black market will continue to thrive.
Penny Palmer November 07, 2012 at 05:39 PM
I agree, it was a hard decision on which way to vote. The law is poorly written for the above reasons but we also spend way to much on arresting, trying and imprisoning pot users. Hopefully, we can now make the corrections in the law needed to increase state revenue without unfairly penalizing users. Medical marijuana has done so much good for so many people.
Local Guy November 07, 2012 at 06:04 PM
It is a building block...


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