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Florida Regulators Hold Meetings To Estimate Marijuana Tax Collections

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cannabismoney[1]Florida regulators met this week to begin trying to ascertain the potential tax collections from the sale of medical marijuana in Florida. The sale of medical marijuana in Florida should begin later this year once the five new dispensaries are approved and have had sufficient time to grow their first crops to maturity. Tax collections on the sale of medical marijuana would, of course, increase drastically if the United for Care or other marijuana initiatives were to be voted into the Florida constitution on the November, 2016 ballot, and Florida regulators are working to project and calculate that additional revenue. To date, Florida regulators have not provided hard estimates as to the projected tax revenue they expect from the sale of medical marijuana in Florida but it was noted that states like Colorado are expected to receive between $50 – $100 million dollars in additional tax revenues to the state from the sale of marijuana in that state.

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