High Tax States: Options for Gleaning Revenue from Legal Cannabis

Jonathan P. Caulkins (Carnegie Mellon), Angela Hawken (Pepperdine), Beau Kilmer (RAND Corporation), Mark A.R. Kleiman (UCLA), Katherine Pfrommer (RAND Corporation), Jacob Pruess (Carnegie Mellon) & Timothy Shaw (Carnegie Mellon), High Tax States: Options for Gleaning Revenue from Legal Cannabis, 91 Or. L. Rev. 1041 (2013):

This Article is divided into two Parts. Part I addresses excise taxes,14 and Part II addresses other ways a legalized industry could produce government revenue. In both Parts the goal is to identify conceptual issues and provide a framework for thinking about revenues. However, the goal is not to provide specific revenue estimates, which naturally depend on the particulars of the law and impossible-to-predict-at-present aspects of the federal response to these laws.

(Hat Tip: Pat Oglesby.)