Legal cannabis states have made millions in marijuana sales taxes. For example, a study by the Cato Institute found that Colorado now takes in about $20 million a month in all marijuana-related taxes, while California takes in about $50 million a month.
The non-profit Tax Foundation recently put together a list of what states made in fiscal year 2020 through marijuana-related excise taxes alone. The following numbers come from that study.
- California - $474.1 million
- Washington - $469.2 million
- Colorado - $307.2 million
- Oregon - $133.1 million
- Nevada - $105.1 million
- Massachusetts - $51.6 million
Illinois, which started sales in 2020, took in about $200 million from all marijuana-related taxes and fees in 2020. The state is using 10% of that money to pay off its backlog of unpaid bills.