Tackling Taxes: The Evolving Taxation of the Marijuana Industry

The “legal” marijuana industry is one of the fastest growing in the United States. Total “legalized” sales of marijuana were $5.4 billion in 2015 and were expected to grow by 24% in 2016 to $6.7 billion. This number is expected to increase by approximately 34% each year, with projected 2020 legalized sales of approximately $21.8 billion.1 To help put this into perspective, the National Football League (NFL) is currently a $12 billion industry and projects $25 billion of revenues by 2027.

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