Vancouver Could Generate Up to $29 Million in Additional Revenue Through Taxed Pot Sales: Study
A new study suggests Vancouver pot smokers could generate up to $29 million annually for the province in additional tax revenue if marijuana was taxed at the same rate as cigarettes.
The 2018 Cannabis Price Index, compiled by pot-tech startup Seedo, looked at the cost of cannabis around the world. The study then calculated how much additional tax revenue each city’s population of pot smokers might generate based on each city’s consumption and average marijuana and cigarette tax rates in the U.S.
On the 120-city ranking, Vancouver was found to have the 96th most-expensive weed, at a cost of about US$6.40 per gram. With an annual consumption of about 5.25 metric tonnes, Vancouver marijuana enthusiasts could generate about US$23.4 million (about $29 million Cdn) if weed were taxed at the same rate as cigarettes or US$6.3 million if taxed at the same rate as pot in places where it’s legal.
– Read the entire article at Vancouver Sun.