Vicente Sederberg LLP released a report on “The Fiscal Benefits of a Taxed and Regulated Cannabis Market in Texas”. The report covers effective tax rates vs prohibitive rates, number of potential consumers, estimated sales per customer, job growth, fee revenue and more. Read the report in full. Takeaways: Number of potential Texas consumers (21+ years): 1,557,629 Estimated yearly sales per customer: $1,730 Estimated yearly total cannabis sales for Texas is $2,694,698,170 Estimated biennium tax revenue of more than $1.1 billion dollars Estimated new jobs: 20,000 – 40,000 Potential license fee revenue for Texas: $10 Million Per Year Estimated $311 million per year in savings by ending misdemeanor arrests and prosecutions for low-level cannabis possession offenses As a result of the COVID-19 outbreak, Texas has to re-evaluate […]