Alaskan Marijuana Sales Set To Generate Millions in Taxable Revenue

Alaskan Marijuana Sales Set To Generate Millions in Taxable Revenue

Alaskan Marijuana Sales Set To Generate Millions in Taxable Revenue

Author Bertram Joyner
Published Oct 29, 2014
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If Measure 2 is passed by Alaskans in the coming November elections for marijuana, that could mean more than $100 million in taxable revenue in the state, according to sales analysts. In a recent report by the Huffington Post, the Marijuana Policy Group made estimates that if marijuana were to become legalized in Alaska this year, it would generate $7 million in state tax revenue, or roughly 22 percent of demand. Although $7 million seems like a reasonable number for additions to tax revenue that will be taken in by the state, these numbers account for profit that will grow incrementally over time and not suddenly over night, as was expected in states like Colorado and Washington. Hopefully for Alaskans, third time will be the charm as this is third go around that Alaska will have the opportunity to legalize cannabis since previously rejected measures in 2000 and 2004. Big money will have a big hand in this year's voting process according to marijuana advocates, especially for the "yes" campaign. Investors such as billionaire George Soros and Peter Lewis have already contributed hundreds of thousands of dollars to to legalization efforts in other states. For More Information: http://rt.com/usa/200267-alaska-marijuana-vote-sales/
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