A new report puts a price tag on what Iowa might reap in tax revenues every year if the state legalized marijuana. The financial website NerdWallet.com took the data from an anonymous health survey that found about 4-percent of Iowans over age 25 said they’d smoked pot in the past month.
Based on Iowa’s population, that’s about 84,000 users. From there, the report’s writers mirrored what Colorado has done and figured in a 15-percent excise tax on all marijuana sales. The final tally exceeded $24 million which the website claims Iowa could generate in taxes each year by making pot legal.
Nationwide, the figure exceeds $3 billion.