Legalizing Marijuana Would Reap Millions Of Dollars For RI

RHODE ISLAND: A report from OpenDoors, a non-profit in Silver Lake that serves those formerly in prison and their families, predicts that the legalization and regulation of marijuana in Rhode Island could generate $21.5 million to $82 million in annual tax revenues.

The estimated tax revenue was included in the study,“Estimated Effects of the Tax and Regulate Legislation in Rhode Island,” that focused on Senate and House legislation that would create a $50 per ounce excise tax of all marijuana sold wholesale and impose a 10 percent special sales tax on all retail marijuana and marijuana products sold at retail outlets.

The  proposed legislation calls for no more than 10 marijuana stores in the state that would sell to anyone 21 years of age or older.

Read full article @ Providence Journal