Here’s How Much Money States are Raking in From Legal Marijuana Sales

On Jan. 1, 2018, the US’s largest and most populated state — California — oversaw the legalization of recreational marijuana. Though not the first state to do this, California’s action is a milestone for the cannabis industry, and for American drug legislation in general. Almost as, if not equally, important is the fact that marijuana’s recreational legality comes with major taxes: a 15% statewide tax on all recreational and medical cannabis products, and additional local taxes and fees.

Much of the country’s outmoded views on cannabis persist, but in the arena of legislation, these arguments are falling on deaf ears. Legalization of cannabis has opened a door to a massive, new source of revenue for state governments. Click through to read about one of the fastest-growing industries to invest in for 2018, and how much states are making off it.

– Read the entire article at Forbes News.