ALEC Workshop: Marijuana: Determining the Financial Impact of Legalization and Regulation
Marijuana: Determining the Financial Impact of Legalization and Regulation
As of 2017, 44 States have passed some form of legislation to allow legal access to cannabis or cannabis products, or to decriminalize the use, possession, cultivation or sale of cannabis for medical and adult-use purposes. These new laws have their merits and flaws, and this workshop is designed to guide attendees through the various regulatory structures that were organized by these states with a focus on economic outcomes. In addition, possible changes in federal tax code guidelines (such as deductibility of business expenses incurred in the production and distribution of marijuana) may have an impact on state tax revenue as well. Even if state legislators choose to refrain from legalizing marijuana legislatively, they may still be forced to determine state tax law if legalization occurs through referendum.