"The California State Board of Equalization released a legislative analysis today estimating that the state would collect up to $1.38 billion in new revenue from taxing and regulating the sale of marijuana.
"The report is based on Assemblymember Tom Ammiano’s (D-San Francisco) groundbreaking legislation, the Marijuana Control, Regulation, and Education act (AB 390) that would tax and regulate marijuana in a manner similar to alcohol."
Read more in San Francisco Sentinel, July 15, 2009.
Notes:
(1) This tax-revenue estimated gain does not include savings in law-enforcement, trial, and prison costs.
(2) California already taxes medical marijuana sales.
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