GOP Opposition Could Cost Wisconsin $170M In Cannabis Tax Revenue, Emerald Cup Skipped For Bigger Milestone & More

Grand News Network | November 6, 2023

Will Republican Opposition Cost This State $170M Annually In Cannabis Tax Revenue?

Legal recreational cannabis sales in the Wisconsin could result in nearly $170 million annually in tax revenue, reported Marijuana Moment citing data from the state's Department of Revenue. That is, if state Republicans change thier sentiment on marijuana legalization. The sum would include $60.1 million from the excise tax, $64.9 million from the retail tax, and $41.7 million from the state sales tax.

Officials unveiled their financial projections following the recent introduction of a measure that seeks to legalize recreational cannabis and possession of up to five ounces of cannabis by adults over 21 and older statewide. The experts looked into trends from the neighboring Illinois and Michigan’s burgeoning cannabis markets.

The legislation, unveiled by Senate Minority Leader Melissa Agard and Rep. Darrin B. Madison in September, seeks to establish a framework for regulated cannabis sales including production and distribution.

Yet, Republicans seem to oppose the policy change, even though they gathered this April to design a ...

Full story available on Benzinga.com


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