By Yvonne Wingett Sanchez | The Republic
Arizona could see as much as $113 million in new tax revenue if it legalized marijuana for recreational use and imposed a 15 percent levy on the drug, a new study found.
The study by the non-partisan Tax Foundation comes as cannabis supporters in Arizona prepare to turn in hundreds of thousands of signatures to try to put their legalization effort before voters in November.
“It is high time for Arizona to take a more sensible approach to marijuana. Prohibition has been an abject failure, and taxation and regulation would lead to massive new tax revenue and untold savings on criminal justice dollars that are currently wasted locking people up for choosing something safer than alcohol.”
~ Ryan Hurley Rose Law Group Director of Medial Marijuana practice group