CALIFORNIA – A Bill to tax and regulate marijuana in California like alcohol would generate nearly $1.4 billion (€1 billion) for the cash-strapped state, say tax officials.
The State Board of Equalisation report estimated marijuana retail sales would bring $990 million from a $50-per-ounce fee and $392 million in sales taxes.
The Bill would allow adults aged 21 and older to legally possess, grow and sell marijuana.
San Francisco Democratic assemblyman Tom Ammiano has promoted the Bill to help bridge the state’s $26.3 billion budget shortfall. – (AP)
