Hawaii Lawmaker Says Tax Revenue Won’t Cover Costs of Legal Adult-Use Cannabis

The Hawaii state Tax Department projects that legalizing adult-use cannabis in the state would generate about $50 million per year in tax revenue, far eclipsing the $2.5 million in medical marijuana taxes collected over the past fiscal year, according to a recent report from the agency. But a state lawmaker believes the taxes collected will not cover the costs of implementing the legalization of recreational weed.

At a meeting of Hawaii’s Dual Use of Cannabis Task Force on Monday, state Tax Director Isaac Choy reported tax revenue of $2.557 million on medical cannabis sales, corporate income tax and employee withholdings

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The Hawaii state Tax Department projects that legalizing adult-use cannabis in the state would generate about $50 million per year… Continue reading
The post Hawaii Lawmaker Says Tax Revenue Won’t Cover Costs of Legal Adult-Use Cannabis appeared first on GrowCola.com.