Report: Legalizing Marijuana in New Jersey Would Boost Tax Revenues by $300 Million

From, May 23, 2016:

Legalizing and regulating marijuana for adults in New Jersey would generate a minimum of $300 million in new tax revenues annually, according to a report by advocates that will be released Tuesday morning at the statehouse in Trenton.

The report, by New Jersey Policy Perspective and New Jersey United for Marijuana Reform, claims that estimate is conservative. Based on a 25 percent tax on retail marijuana sold only to adults, the overall economic impact would be far greater once other benefits are factored in, including job creation, additional income and business tax revenue, tax revenue from the sale of marijuana-related accessories, and property and agricultural taxes, it said.