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Estimated revenues from pot legalization rise

September 25, 2018

CONCORD, N.H. (AP) — The New Hampshire Department of Revenue Administration has raised the state’s estimated revenue from marijuana legalization to as much as $58 million a year.

The Concord Monitor reports the department estimates revenues will be between $26 million and $57 million if the state taxes marijuana at 15 percent. In December, the high revenue estimate was $41 million.

A 7-percent tax would result in estimated yearly revenue of $15 million to $32 million.

The department says the new estimates were based on a recent comprehensive study in New York.

The estimates have been sent to a commission that is scheduled to outline a path to legalization by November.

The House gave preliminary approval to a bill legalizing recreational marijuana use this year, but it was sent back to committee for review.

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Information from: Concord Monitor, http://www.concordmonitor.com

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