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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsColorado Stoners Generate $1 Million in Tax Revenue
BY MIKE ADAMS · TUE FEB 04, 2014
After only a month in business, the Great Colorado Cannabis Experiment is proving to be a profitable venture for the state. Recent sales records reveal that retail weed slingers were responsible for collecting some $1.24 million in tax revenue in January -- putting the states recreational marijuana industry on the fast track to earning over $100 million a year in taxes.
During a recent survey conducted by NBC News, half of Colorados licensed recreational marijuana retailers opened up their books and shared tax records for their first 27 days in business. Not only do these documents indicate that pot shops are generating higher revenue levels than expected, but it also points toward a time in the not so distant future when marijuana may generate more tax dollars than alcohol, or even cigarettes.
In 2013, Colorado managed to collect about $40 million in taxes derived from alcohol sales, as well as nearly $32 million from tobacco products. Cigarettes, however, were one of the states highest sources of tax income -- producing about $166 million. Yet, marijuana is poised to become the number one contender.
This is promising news for many state funded projects, especially Colorado schools. State law mandates that the first $40 million collected in recreational marijuana tax be applied towards bettering the states educational facilities. Additional revenue will be used to improve the conditions of the states roads, bridges and parks, according to recent reports.
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http://www.hightimes.com/read/colorado-stoners-generate-1-million-tax-revenue
Warren DeMontague
(80,708 posts)liberal N proud
(60,334 posts)Blue_Adept
(6,399 posts)Marijuana is just not for me (I'm one of those weird people that's never even had a drop of alcohol in my life nor a cigarette - I get my vices elsewhere) and as long as we have some good common sense laws and expectations about usage, it'll be win/win in general.
malthaussen
(17,193 posts)No tax money spent pursuing, trying, and incarcerating potheads. That's got to add a few million to the kitty.
40 years ago I suggested this and nobody listened. I'm glad to be proved right at last!
-- Mal
Cha
(297,167 posts)Not
Boo on Broncos GM John Elway.. [font color=green]YAY for Colorado Green Initiative! [/font]
Ed Suspicious
(8,879 posts)Recent sales records reveal that retail weed slingers were responsible for collecting some $1.24 million in tax revenue in January -- putting the states recreational marijuana industry on the fast track to earning over $100 million a year in taxes.
Response to Ed Suspicious (Reply #6)
guyton This message was self-deleted by its author.
Beartracks
(12,809 posts)Okay, I'm just riffing off a stereotype, but it was too silly an idea to pass up.
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