According to the report, if cannabis were legalized with a tax of 25% of its wholesale price, the state would garner an estimated $45 million in new taxes each year from residents. a 15% tax would garner the state less, but still a significant sum; $26.8 million.
The report estimates that if just 10% of those who living within a 200-mile radius of West Virginia came to the state to legally purchase cannabis, the state would garner an additional $194 million in taxes at a 25% rate; they would garner $116.5 million at a 15% tax rate.
According to the report, legalizing cannabis could reduce criminal justice costs and offer a pain relief treatment less addictive than opioids, while increasing tourism for the state.
The report estimates that there is an average of $190 million in cannabis purchased each year in West Virginia, despite it being entirely illegal (with the possession of even one gram being a misdemeanor punishable by up to 6 months in jail).
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