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