Marijuana Shops Could Top $80M in Tax Revenue this YearPosted by On



The lines outside the first pot shops in Massachusetts have had many seeing red, but state and local officials are seeing plenty of green when it comes to tax revenue.

“It’s many millions of dollars. The demand is real,” attorney Jim Smith said.

Smith represents two dozen cannabis businesses and has been watching the robust numbers come in.

The two shops that are open, in Northampton and Leicester, reported $4.8 million in sales in the first 12 days, and roughly one out of every five dollars goes to taxes.

Sergio Flores/Getty Images

The state’s Department of Revenue is predicting the marijuana businesses will bring in between $44 million and $82 million in tax revenue during the current fiscal year and as much as $172 million the year after that.

The money will fund the commission…



Original Author Link click here to read complete story..

News

80MmarijuanarevenueshopsTaxtopyear

Leave a Reply