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Legalizing Marijuana in Arizona Could Generate $72M Yearly in Tax Revenue

Arizona Marijuana Tax for Schools

Backers of the Campaign to Regulate Marijuana Like Alcohol hold a prop check made out to the state for $40 million at an August 19 press conference.

Arizona – A new report by the Grand Canyon Institute states that previous marijuana tax-revenue estimates were way too low. New estimates are showing that Arizona would be able to raise about $72 million in revenue annually if voters make marijuana legal in 2016.

The anticipated ballot measure would raise at least $40 million a year for Arizona schools. The campaign claims to have almost 65,000 signatures already for a citizens initiative that is expected to be on the ballot in November 2016.

The institute “finds that the revenue projections were conservative as proponents claimed,” the GCI report states.

They also state that the report was done conservatively. This report goes more in depth, looking also at inflation, population growth, tourism, and other factors. The full report can be read on the Grand Canyon Institute’s Website, link below.

Estimated Revenue From 15% Marijuana Sales Tax in Arizona

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"Legalizing Marijuana in Arizona Could Generate $72M Yearly in Tax Revenue"

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    Reply

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