Connect with us

Guides

Pew Charitable Trusts Report: Tax Revenue from Recreational Cannabis is Hazy

Bea Brooks

Published

on

Pew Charitable Trusts Report: Tax Revenue from Recreational Cannabis is Hazy

According to a report by the Pew Charitable Trust, tax revenue from recreational marijuana is unpredictable, perhaps in part due to the lack of historical data.

The report explains that there are challenges of forecasting marijuana revenue. Josh Lehner, a senior economist with Oregon’s Office of Economic Analysis stated in the report, “the biggest issue is lack of data, lack of history.” He added, “For standard forecasting models, it’s helpful to have more detail about demographics, consumption, and product types. We’re not there, and other states I’ve talked to aren’t there yet either.”

The absence of reliable information makes it difficult to determine how much tax revenue has been collected. Further, there is on indication that whatever tax reports are generated predict future revenue because of changes in demand, consumption, and the like.

Advertisement
Advertisement

Follow Times of CBD News

popular-cbd-health-benefits best-cannabidiol-guide-resources hemp guide

TimesofCBD.com is the most active daily cannabis news publication online inviting all readers to come for the headlines and stay for the insights. The primary focus is on curating latest CBD news updates, marijuana market movements and researched hemp-based product user guides. While everything is here for educational, informational purposes only, quality is always the priority and fact checking sources with industry-leading accuracy in reporting is at the top of the list of this emerging, innovative industry.

Note: Always seek real additional medical advice and consultation with a professional healthcare practitioner before considering any CBD. No statements found on this website have underwent Food and Drug Administration evaluation. The efficacy of any products or claims made have never been approved by the FDA either. No products shall ever be intended to diagnose, treat or cure any disease or prevent any ailment.

Got news? Email us [email protected]

Trending Cannabis News

Advertisement