- The debate over legalized marijuana is heating up,
as the Trump administration seeks to potentially set
the legalization movement back.
But could the new Trump tax code actually encourage
more states to get into the business?
Here's why this matters.
Revenue from legal sales of marijuana in the U.S.
is expected to explode over the next few years
growing from $6.7 billion in 2016,
to over $21 billion by 2021.
States are noticing this trend, and cashing in on it.
California began recreational sales of marijuana
on January 1st with a statewide excise tax
of a whopping 15% on all of those sales.
This is in addition to the other state and local taxes,
depending on where the cannabis is being sold.
Total taxes in some cities could amount
to as much as 40% per sale.
The other five states which currently allow recreational
sales have similar tax laws in effect,
helping to generate billions of dollars in revenue.
This could look very appealing to high-tax states hit
hardest by the Republican tax overhaul last month.
As a way to offset fiscal losses under the new code,
places like New York, New Jersey, and Minnesota
all high-tax states which allow medicinal marijuana sales
could seek to legalize recreational sales
in order to tax it.
In essence, legalizing something the Trump administration
is opposed to in order to pay for the tax code it mandated.
Now, whether the legal selling of marijuana
will remain is a bit hazy,
as Attorney General Jeff Sessions rescinded
an Obama-era policy that essentially protected sellers
in legalized states from federal prosecution.
It remains to be seen if the DOJ will move to crackdown
on marijuana dispensaries under federal law
but the move sets up a possible fight
with the Trump administration that will have far
reaching effects on this rapidly-evolving industry.
For more infomation >> ISP teaming up with surrounding states for Human Tracking Awareness Month - Duration: 3:10. 
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