Idaho could see more than $100 million worth of medical marijuana sold on an annual basis and up to $28 million in new yearly revenue for state coffers under a legalization measure that activists are working to qualify for the November ballot, according to a new economic analysis released by the campaign.
The Natural Medicine Alliance of Idaho (NMAI), which last week announced that it’s collected enough signatures for a medical cannabis legalization initiative to exceed the statewide threshold for ballot qualification, commissioned the firm Younger Associates to run two fiscal projections for the proposal, using Utah’s medical marijuana program as a model.
“Under a Utah-comparable participation trajectory, Idaho could support approximately 63,000 active patients and $108.5 million in annual retail sales by Year 6,” the analysis says.
Under the first revenue scenario, the state’s existing 6 percent state sales tax would be applied to marijuana sales and there would also be a $100 annual patient registration fee, which is projected to net about $6.5 million in annual sales tax revenue and $6.3 million in annual patient card fees by the program’s sixth year.
The second revenue scenario includes the same patient registration cost and sales tax, but also adds an
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