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PODCAST: Legalized, Taxed Marijuana Would Generate .1% of RI Budget

Friday, March 14, 2014

 

Based on the recent revenue reports from Colorado that showed them taking $2 million in taxes from the legalized sale of marijuana in January, if Rhode Island were to legalize and tax marijuana in a similar manner, the state could generate nearly $5 million annually -- which is less than .1% of Rhode Island's FY14 $8.3 billion budget. Ron and GoLocalProv's Kate Nagle discuss.

 

Related Slideshow: The Highest Marijuana Prices in New England by State

The "crowdsourced" website, The Price of Weed, uses consumer input to show how much an ounce of marijuana costs -- by location.  

Below are the rankings of New England states, from lowest price reported for "medium grade" marijuana, to highest, along with the number ("n") submitting data.  

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#6 Rhode Island

 

Med: $254.87/oz (n=332)

High: $334.55/oz (n=490)
 
Low: $204.34/oz (n=31)
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#5 Maine

 

Med: $260.92/oz (n=395)

High: $322.94/oz (n=423)
 
Low: $227.68/oz (n=49)
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#4 Connecticut

 

Med:  $275.19/oz (n=1204)

High:  $353.65/oz (n=1210)
 
Low:  $261.74/oz (n=88)
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#3 Massachusetts

 

Med:  $297.83/oz (n=2305)

High:  $359.88/oz (n=2705)
 
Low:  $215.93/oz (n=208)
 
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#2 New Hampshire

 

Med: $313.01/oz (n=410)

High: $377.02/oz (n=399)
 
Low: $608.01/oz (n=34)
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#1 Vermont

 

Med: $325.34/oz (n=209)

High: $380.48/oz (n=262)
 
Low: $187.06/oz (n=24)
 
 

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