Marijuana tax

A BILL to tax and regulate marijuana in California like alcohol would generate nearly $1.4 billion (€1bn) in revenue for the cash-strapped state, according to an analysis released by tax officials.

The State Board of Equalisation report estimates marijuana retail sales would bring $990 million from a $50-per-ounce fee and $392m in sales taxes.

The bill introduced by San Francisco Democratic Assemblyman Tom Ammiano in February would allow adults 21 and older to legally possess, grow and sell marijuana.