New Wisconsin Report Shares Cannabis Revenue Estimates

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Summary

Following the introduction of Senate Bill 486, a cannabis legalization bill first introduced two months ago, the Wisconsin Department of Revenue released a fiscal report of the impact of legalization. Additionally, the report mentions Milwaukee-specific sales tax of 2.5%, for $0.2 million in the first year, $0.6 million for the second, and $0.8 million for the third. Wisconsin also lumps together county tax estimates, along with a “stadium tax,” or baseball stadium tax for the counties of Milwaukee, Ozaukee, Racine, Washington, and Waukesha. Together, this 9.6% state sales could collect up to $0.9 million in the first year, $2.3 million in the second year, and $3.1 million in the third year. Additionally, a 10% excise tax on cannabis retailers could net up to $19.1 million in the first year, $47.3 million in the second year, and $64.9 million in the third year.

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Following the introduction of Senate Bill 486, a cannabis legalization bill first introduced two months ago, the Wisconsin Department of Revenue released a fiscal report of the impact of legalization.

So far, SB 486 has received one Senate reading on Oct. 9, two additional cosponsors, and a fiscal estimate first published on Oct. 25.

Wisconsin has no data to build off of any existing cannabis industry but it used data from neighboring states of Michigan, Illinois, and Minnesota to get a better idea of the effects and potential benefits of legalization. “All three states generate...

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