Legalized marijuana could land Virginia up to $308 million in annual tax revenue | State And National

by Newsfeed

(The Center Square) — Making recreational marijuana legal in Virginia could create up to 18,000 jobs and generate up to $308 million in annual tax revenue, depending on the tax rate.

A Joint Legislative Audit and Review Commission (JLARC) report said a legal marijuana market, when fully implemented, would create between 11,000 and 18,000 jobs, including cultivators, technicians, trimmers and sellers.

The jobs likely would be concentrated in Virginia’s most populous areas, and the median wage of these jobs likely would be less than the state’s median wage.

Tax revenue in a legal market would depend on the tax rate that’s established and the demand in the legal market. The…

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