COLUMBUS, Ohio (ADAMS) – A new study is estimating that the State of Ohio could see more than $200 million dollars in additional tax revenue in the first year if recreational marijuana is legalized.
Research compiled by the OSU Drug Enforcement and Policy Center shows that the number could be up to over $400 million annually after five years.
Recreational pot would be subject to a ten-percent excise tax on top of existing sales taxes under the rules included in the ballot issue going before voters in November.
The existing medical marijuana system would still be in place and the excise tax would not apply to prescription purchases.
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