Friday, May 07, 2010
Hawaii missing out on lucrative agricultural revenue—medical marijuana
California Board of Equalization official Anita Gore told the Express this week that the board estimates it collects anywhere from $50 million to more than $100 million in sales taxes per year from medical cannabis dispensaries.
That's on top of the millions of dollars municipalities like Oakland have begun collecting in local sales taxes and fees.
by Larry Geller
Bottom line for Hawaii: We’re missing the boat on an important source of revenue.
The board estimates the state can make $1.4 billion annually from fully integrating the vibrant cannabis market into the economy. [East Bay Express, California To Collect $100 million in Cannabis Taxes This Year, 5/5/2010]
Below are two documents linked from the East Bay Express article. A similar analysis could be done for Hawaii. We could include an estimate of export revenue if we choose to supply the California market.
Where to plant the stuff? A double benefit would accrue if we replaced unpopular GMO crops with more desirable Maui Wowie.
California State Board of Equalization analysis of marijuana tax (draft) 2/23/2009California Board of Equalization - Fiscal Impact of Legalization of Marijuana
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