The city collects a 4% cannabis excise tax on each sale of ganga. The state collects a 9% excise tax plus a potency tax on the distribution of cannabis.
IBO said that such market growth is possible — only if an average of 24 dispensaries opens per year, with each store making an average of $8.1 million in annual sales.But IBO also said that if the current slow growth patterns continue the city will not reach $950 million in annual sales until after 2030.
IBO said an estimated 1,500 unlicensed weed stores may hold as much as $484 million worth of untaxed cannabis products in total.
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