District CFO Natwar Gandhi’s office is estimating that extending the city’s 6 percent sales tax on medical marijuana will bring in more than $400,000 over the next four fiscal years.
The D.C. Council passed a medical marijuana law earlier this year and recently approved extending the city’s sales tax to cover pot sold in the city. The CFO’s numbers are based on the assumption that there will be 106 medical medical marijuana users in the fiscal year that starts Oct. 1. Those users will pay $350 a month for an ounce of pot, the CFO estimates, bringing in $26,701 during FY2011.
By FY14, there will be an estimated 848 users who will pay $213,609 in taxes.
