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Cannabis Countdown: Estimating the Size of Illegal Markets and Lost Tax Revenue Post-Legalization
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Page Title: | Cannabis Countdown: Estimating the Size of Illegal Markets and Lost Tax Revenue Post-Legalization – C.D. Howe Institute |
Article Title: | Cannabis Countdown: Estimating the Size of Illegal Markets and Lost Tax Revenue Post-Legalization |
URL: | https://cdhowe.org/publication/cannabis-countdown-estimating-size-illegal-markets-and-lost-tax-revenue-post-legalization/ |
Published Date: | October 11, 2018 |
Accessed Date: | February 9, 2025 |
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A large black market combined with supply shortages of legal marijuana will cut potential tax revenues by an estimated $800 million in the first year of legalization, according to a new report from the C.D. Howe Institute. In “Cannabis Countdown: Estimating the Size of Illegal Markets and Lost Tax Revenue Post-Legalization,” authors Anindya Sen and Rosalie Wyonch find that government revenue forgone to black market activity will likely exceed the amount federal and provincial governments collect, a figure only between $300 - $600 million.
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