California Tax Board Says Regulating Commercial Pot Sales Would Yield $1.4 Billion Annually — Also Predicts Decline in Use of Booze and Tobacco

The BOE’s estimate, released late yesterday, assesses a $50 per ounce tax on the retail sale of cannabis (among other state-imposed costs), as recommended under Assembly Bill 390: The Marijuana Control, Regulation and Education Act.  This act seeks to license and tax the commercial production, packaging, and retail sale of marijuana to those 21 years of age or older.