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Home 🌿 Recreational Marijuana News 🌿 The state weighs in: How much money will marijuana bring to Alaska? 🌿The state weighs in: How much money will marijuana bring to Alaska?
Alaska stands to make between $5.1 million and $19.2 million in tax revenue from commercial marijuana in 2016, according to a preliminary estimate by the Alaska Department of Revenue.
An estimate dated Jan. 2 looks at possible revenues that it calls “very uncertain.” The tax division had to estimate both how much marijuana is consumed in Alaska every year and what proportion of consumers will switch to marijuana from the legal retail market, said Ken Alper, Department of Revenue tax division director.
“To a certain extent you’re shooting in the dark here,” Alper said.
Marijuana will be taxed at $50 an ounce, according to Alaska’s initiative, which was voted into law in November. Leading into the election, how much revenue Alaska stood to gain was anybody’s guess. Former Gov. Parnell’s administration declined to publicly release a revenue estimate, although the state did produce a cost estimate of $3.7 million to $7 million to...
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