CONCORD, NH — Regulating New Hampshire’s existing adult use cannabis market would yield as much as $58 million per year in new annual revenue, according to an analysis authored by the state’s Department of Revenue.
Analysts’ estimates are based upon the application of a 15 percent tax rate on commercial transactions.
The Department’s report was provided to the state’s Commission to Study the Legalization, Regulation, and Taxation of Marijuana – which is preparing to make recommendations to the legislature this November.
Members of the New Hampshire House initially voted in favor of legalization legislation in January by a vote of 207 to 139 before ultimately deciding in favor of appointing an interim study committee in March.
Lawmakers decriminalized low-level marijuana possession offenses last year.
Tags: New Hampshire, New Hampshire marijuana legalization, tax and regulate