One million pounds of marijuana expected to be sold in California this year

January 1, 2018 marked the legalization recreational marijuana in California - a state that has always been closely associated with the consumption cannabis. Despite getting f to a slow start during its first two weeks due to permit issues and a variety other legal blockades, the buzz excitement surrounding the rise recreational weed businesses in California continues to grow.

According to , the Department Finance has estimated that California will sell over 1 million pounds marijuana between July 1 2018 and June 30 2019 - the first full budget year legalization.

In total, this would amount to “$3.4 billion in recreational retail sales in the first full year, and $643 million in tax revenue for the state.”

On its own, California is one the world’s largest economies and while this influx cash may appear as a drop in the bucket compared to the state's annual GDP, the millions made in tax revenue from the sale marijuana and other cannabis related products may save countless local programs all over the state.

About the Author

Connect with us
2021 EDM Junkies. All Rights Reserved.