Cannabis Monthly Tax Revenue Analysis of Relevant Factors and Predictive Model

Abstract

En-Chi Kuo, Dwayne Martin, Matthew Chin, Josh Cubero, Bahman Zohuri

This analysis will focus on how legalized recreational and medicinal usage of cannabis would have an impact on a state’s economy. We will look at the benefits and the lack thereof to find more details about the connection between cannabis and individuals’ financial factors, such as their annual income, the gross domestic product if they are employed or not, and, if possible, how much they spend on healthcare or if they are receiving funding from the government to pay for any of their expenses. However, some states have begun to include cannabis as a legal drug for both medicinal and recreational reasons. More research has been done in the last half-century-plus to destigmatize cannabis’ portrayal as a harmful drug, but as a new opportunity to study the unknowns of the plant and products made, as well as the economic growth that consumers have capitalized on, particularly in the last decade.

PDF