Regulating and Taxing Marijuana: The Fiscal Impact on NYC

August 14, 2013
New York City Comptroller John C. Liu

This groundbreaking report by the New York City Comptroller’s office estimates the value of the current illicit marijuana market in the city, and outlines a rationale and potential benefits of regulating and taxing the sale of marijuana for personal use for adults. The report finds that taxing and regulating marijuana would eliminate the unlawful arrests of tens of thousands of Black and Latino New Yorkers while generating more than $400 million in new tax revenues for New York City.  It also calls for creating legal access to medical marijuana for patients.