Report: Arizona Recreational Market Estimated at $480M

Recreational marijuana stores in Arizona could generate roughly $480 million in revenue during the first full year of sales if the state legalizes adult-use cannabis in 2016, according to estimates in a new report by the nonpartisan Grand Canyon Institute.

A legalization proposal aiming for the 2016 ballot would establish a 15% sales tax on cannabis transactions. If the measure passes, the state would collect an estimated $72 million in taxes in 2019, when the new cannabis system would be fully up and running, according to the report.

The tax projection equates to nearly half a

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Report: Arizona Recreational Market Estimated at $480M is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs