Study: Marijuana Legalization in Connecticut Would Generate Over $30M

The Office of Fiscal Analysis in Connecticut compiled data showing that the first full year of legal marijuana sales could bring tax revenues of $30.1 million or more. The office used a model mimicking those used in Massachusetts and Colorado. The taxes in both Colorado and Massachusetts are higher than what lawmakers are proposing in Connecticut.

Lawmakers are working toward legal marijuana in Connecticut, Hartford Courant reports. However, they are not optimistic that legislation will be passed this year. There is much more talk about legalizing recreational marijuana since it is now legal in neighboring Massachusetts.

Connecticut Governor Dannel Malloy supports decriminalization. He is not on-board with full legalization just yet. Governor Malloy is supportive of the state’s medical marijuana program. Further discussions regarding legal marijuana are expected in the near future.