Ron DeSantis And Florida Lawmakers Estimate Legal Weed Will Generate At Least $500M In Tax Revenue
Portfolio Pulse from Maureen Meehan
The Florida legislature and Governor Ron DeSantis estimate that legalizing cannabis could generate between $195.6 million and $431.3 million in annual sales tax revenue. A legalization initiative is expected to go to the voters in 2024. The legalization movement received significant financial support from Florida-based Trulieve Cannabis Corp. (OTCQX: TCNNF), which has contributed at least $39 million to the Smart & Safe Florida campaign.
July 17, 2023 | 7:09 pm
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Trulieve Cannabis Corp. has significantly supported the cannabis legalization movement in Florida, contributing at least $39 million to the campaign. This could potentially impact the company's position and profitability in the state if the initiative is successful.
Trulieve Cannabis Corp.'s significant financial contribution to the cannabis legalization campaign in Florida indicates the company's vested interest in the initiative's success. If the initiative is successful, it could potentially open up a new market for the company, boosting its sales and profitability. However, the outcome of the initiative is uncertain and depends on the voters' decision in 2024.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80