Including such incredible sentences as, "The first month of legal marijuana activity will be in December 1, 2013" and "Retailers will sell 85.1 to 93.6 million grams per year at an average price, excluding taxes, of $12 per gram," the state's Office of Financial Management has issued a preliminary fiscal note on the financial implication if voters pass Initiative 502 this fall.

The long and short of it: Taxing and regulating the marijuana industry would generate—including excise, B&O, and retail taxes—an annual revenue of roughly $564 to $606 million in the first full year of legalization. Again with the caveat that this is a partial, preliminary report of the OFM, you can read the whole thing here.

Needless to say, this would be a significant boon to a state mired in chronic budget shortfalls.