TaxMan123.com

By Roger Chartier


United States of America IRS Tax Information

TAX BLOG
When Roger has some spare time, he posts here. Good articles!

LINK TO BLOG HOME PAGE

State tax on legalized marijuana sales!

The amount of tax that the states could reap if they
legalized marijuana is enormous

It could pay for a lot of things such as medical services, other tax reduction, etc. for state residents.

There is a current study that shows that Colorado who recently did just this is raking in between $50,000,000 and $99,000,000 a year.

That is a lot of money and for some states it would be a wonderful way to reduce other tax or increase healthcare etc for residents.

 The folks who smoke marijuana are still going to smoke and the law doesn't really stop them as the desire to smoke once in a while is going to be there.

People who smoke pot

Will continue to imbibe in the weed and some will quit as it was before the legality issue came up.

stack of bills - money - www.TaxMan123.comPeople will begin to smoke and some will lose interest. The use of marijuana might nicrease a bit on the whole but in general we will not be overwhelmed by pot abuse.

People don't respect the anti-marijuana laws enough as it is, to not smoke it if it is made available to them.Weed is not addictive despite the fanatical anti-pot folks who make up stories about it to scare us all.

Marijuana does not lead to heroin addiction

Any more than alcohol consumption would.

So the idea that marijuana is leading the folks who smoke it down the road to hell is just a bunch of hoopla and it is a silly response to not understanding marijuana.

It is not a good idea for a neurosurgeon to get very stoned on pot and try to perform brain surgery, for example, but people already know that so it isn't an issue.

People do not get into get into car accidents or have traumatic disasters happen to them because they are high on weed, whereas people who drink excessive amounts of alcohol are disastrous at best.

Here are the latest results

For the amount of money that your state could gain if they legalized marijuana sales with a sales tax.

These results are in millions of dollars

Alabama $30 - $49   Louisiana $20 - $29   Ohio $100 - $500
Alaska $10 - $20 Maine $10 to $20, Oklahoma $30 - $49
Arizona $50 - $99 Maryland -$10 Oregon $50 - $99
Arkansas $20 - $29 Massachusetts $50 - $99 Pennsylvania $100 - $500
California $500 + Michigan $100 - $500 Rhode Island $20 - $29
Colorado $50 - $99 Minnesota $30 - $49 South Carolina $30 - $49
Connecticut $30 - $49 Mississippi $20 - $29 South Dakota -$10
Delaware - $10 Missouri $30 - $49 Tennessee $50 - $99
Florida $100 - $500 Montana $10 - $29 Texas $100 - $500
Georgia $50 - $99 Nebraska $10 - $19 Utah $10 - $19
Hawaii $10 - $19 Nevada $30 - $49 Vermont $10 - $20
Idaho $10 - $19 New Hampshire -$10 Virginia $50 - $99
Illinois $100 - $500 New Jersey $50 - $99 Washington $100 - $99
Indiana $50 - $99 New Mexico $20 - $29 West Virginia $10 - $19
Iowa $20 - $29 New York $100 - $500 Wisconsin $30 - $49
Kansas $10 - $19 North Carolina $50 - $99 Wyoming -$10
Kentucky $20 - $29 North Dakota -$10    

TaxMan123 Blog








Roger Chartier - The Author