Colorado Cannabis Taxes off the Scale

February 26th, 2014 | By

colorado

Colorado’s recreational cannabis market has far exceeded people’s wildest dreams. Instead of the estimated $68 million in taxes it was expected to generate, new estimates put this amount at around $117 million per year.

Exact figures from January are to be released later this month. This amount included taxes from medical cannabis which is only taxed at a much lower rate of 2.9%.

The money will be used for various purposes including public health and awareness campaigns including $45 million on preventing youth’s from smoking weed. How you actually achieve that I would love to know. Other money may go into substance abuse treatment centers.

These huge figures do not include an extra 15% cannabis excise tax levied on all sales – of which an estimated $40 million will be used in the construction of new schools.

“Voters and state lawmakers around the country are watching how this system unfolds in Colorado, and the prospect of generating significant revenue while eliminating the underground marijuana market is increasingly appealing”

said Tvert from the Marijuana Policy Project.

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