Legal Pot Taxes Could Add $5B a Year to Government Coffers, CIBC says

PM has promised legal marijuana will not be a cash cow, all revenues will be spent on public health

Call it Prime Minister Justin Trudeau’s secret stash.

A new report from CIBC World Markets says Canada’s federal and provincial governments could reap as much as $5 billion annually in tax revenues from the sale of legal marijuana.

CIBC economist Avery Shenfeld crunched the numbers using current estimates of Canadian recreational pot consumption, the revenue experience in U.S. states that have legalized, and other factors — such as prevailing “sin tax” rates on alcohol and tobacco.

– Read the entire article at CBC News.