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Medical Cannabis: America’s True Cash Crop

Medical Cannabis: America’s True Cash Crop

Posted by Marijuana Doctors on 05/02/2011 in Medical Marijuana

As medical marijuana patients and compassionate care physicians, we are sure you are aware of the vast medical benefits of cannabis. But we thought we’d take a minute to remind you how this cash crop can benefit our economy as well. Medical marijuana generates significant revenue for marijuana states that tax sales. For example, Colorado took in $2.2 million in sales tax last year. And of course medical cannabis has created a multi billion dollar industry for growers, dispensaries, physicians, dispensary locator sites, and more.

But if pot were legalized for all Americans, the projected tax revenue would be astounding. Here is CNN’s breakdown for each state if marijuana was legalized:

Projected marijuana tax revenues* State Tax Revenue (in millions)
Source: CNN
Link: http://money.cnn.com/pf/features/lists/taxes_marijuana/revenue.html

California 105.4

New York 65.5

Florida 48.2

Texas 46.6

Ohio 34.8

Michigan 32.4

Illinois 31.6

Pennsylvania 30.5

Washington 22.0

Virginia 20.9

North Carolina 20.6

Georgia 19.3

New Jersey 19.3

Massachusetts 18.4

Indiana 17.8

Colorado 17.6

Missouri 15.6

Minnesota 14.3

Oregon 14.1

Maryland 13.9

Wisconsin 13.4

Arizona 13.0

Louisiana 13.0

Tennessee 12.2

Kentucky 10.2

Connecticut 9.8

South Carolina 9.1

Alabama 8.9

Oklahoma 8.3

Nevada 7.9

Arkansas 6.7

Kansas 6.6

Mississippi 6.6

Iowa 6.2

New Hampshire 5.6

Nebraska 5.0

New Mexico 4.9

Utah 4.7

Rhode Island 4.6

Maine 4.1

West Virginia 4.1

Hawaii 4.0

Montana 3.6

Idaho 3.3

Alaska 2.8

District of Columbia 2.8

Vermont 2.8

Delaware 2.4

South Dakota 2.0

North Dakota 1.6

Wyoming 1.2

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