Rhode Island estimate: $15M in tax revenue from MJ legalization

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Rhode Island could net $10 million-$15 million in tax revenue during the first year of cannabis sales if it legalizes recreational marijuana, the states’s governor told the Providence Journal.

It’s the latest indication from Gov. Gina Raimondo that her administration is considering regulating and taxing adult-use cannabis. It’s also the first time an administration official has made a marijuana revenue forecast, the Providence Journal reported.

But Matt Sheaff, a spokesman for the state’s Department of Business Regulation, cautioned that Raimondo’s figure is a “back-of-the-napkin” forecast and does not mean legalization is imminent, according to the newspaper.

“This is not something

Rhode Island estimate: $15M in tax revenue from MJ legalization is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

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