Recreational marijuana sales in California will total $5 billion, study predicts

SACRAMENTO, Calif. — California is on the verge of creating a legal market for marijuana worth more than $5 billion that will help make the state a destination for pot-loving tourists, according to a new state-sponsored economic study.

But about 29 percent of all cannabis consumers may stay in the illegal market at first to avoid the cost of new regulations requiring marijuana to be tested, tracked and taxed at 15 percent of its retail value, according to the study by the University of California Agricultural Issues Center.

Bud tenders assist customers at a Los Angeles medical pot dispensary. State officials hope to begin issuing licenses in January to businesses in the legalized recreational market.Bud tenders assist customers at a Los Angeles medical pot dispensary. State officials hope to begin issuing licenses in January to businesses in the legalized recreational market.


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http://www.pressherald.com/2017/06/11/recreational-marijuana-sales-in-california-to-total-5-billion-study-predicts/

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