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420 with CNW — Think Tank Says Legalizing Cannabis Federally Could Generate $8.5B in Taxes

A recent analysis from the Tax Foundation, a Washington, D.C.-based nonprofit think tank, suggests that the nationwide legalization of cannabis across all states could significantly boost annual cannabis tax revenue, projecting it to reach $8.5 billion. The foundation proposes a comprehensive federal and state taxation model for cannabis, aiming to keep costs low to discourage illicit sales while advocating for higher tax rates on more potent marijuana products.

The current state-by-state approach to marijuana taxation, according to the report, is chaotic. Therefore, there is a need for a reevaluation of the…

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CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of two informative articles each business day. Our concise, informative content serves as a gateway for investors interested in the legalized cannabis sector and provides updates on how regulatory developments may impact financial markets. Articles are released each business day at 4:20 a.m. and 4:20 p.m. Eastern – our tribute to the time synonymous with cannabis culture. If marijuana and the burgeoning industry surrounding it are on your radar, CNW420 is for you! Check back daily to stay up-to-date on the latest milestones in the fast -changing world of cannabis.

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