One of the key arguments on whether or not to legalize marijuana — recreational or otherwise — is that states will be able to benefit financially from collecting marijuana-related taxes. Colorado and Washington, which have legalized marijuana, are seeing revenue collections that have exceeded initial estimates.

For an overall perspective on the impact of legalization of marijuana on state tax revenue, we talked with Joe Henchman. He is the executive vice president of the Washington, D.C.-based Tax Foundation.