He pointed out that currently sales are on a cash basis only and the taxes are to be paid out of these cash transactions. Naturally enough, as one might expect, the states are estimating that only 25-35% of the taxes are being collected. AHGIF gives the software to the states free of charge which should triple the states tax revenue from MJ sales. AHGIF will derive revenue from this by taking a percentage of the tax revenue.
Given the large tax revenues that states which have legalized MJ have already experienced, factor in that these revenues could be only 25-35% of what potentially could be collected, and they can receive the software to collect the other 65-75% of the taxes they are missing out on free from AHGIF for a percentage of the take....How can this not be huge?
Do you know of any competition in this space? Or when the banking industry is finally free to do business with the MJ sector will this have any effect?
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