Study looks at marijuana market – WPTZ The Champlain Valley
Researchers are studying how much money states could make from marijuana legalization.
Vermont could gain as much as $11 million in tax revenue if the drug is legalized, according to a study done by Nerdwallet.com.
Analysts estimate the marijuana market in Vermont to be worth around $54 million annually. The estimate is based on the number of smokers per state multiplied by the sales tax plus what an excise tax could impose on the drug.
Gov. Peter Shumlin said Vermont will weigh the pros and cons before making any strides toward legalization.
“We have a Rand commissioned study that’s going to come back with the positives and negatives of legalization, and I think that will provide a road map on where Vermont should go,” Shumlin said.
Shumlin said he’s grateful for the states of Washington and Colorado for legalizing marijuana first because lawmakers will be able to learn from them.
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