LAWSCAPE
 

How Much Money Could Your State Make by Legalizing Cannabis?

How does $3,098,866,907 sound? That’s how much tax revenue could be collected if all 50 states legalized and imposed their normal state sales tax plus a modest 15% excise tax on recreational cannabis. The 5 states with the highest tax potential are California ($519 million), New York ($248 million), Florida ($184 million), Texas ($166 million) and Illinois ($126 million). Here’s a visual rundown:

 

 

Key:

  • White: Less than $10 million
  • Gray: $10 to $20 million
  • Light Blue: $20 to $30 million
  • Blue: $30 to $50 million
  • Black: $50 to $100 million
  • Vertical stripes: $100 to $500 million
  • Horizontal stripes: Over $500 million

 

Source: NerdWallet.com

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