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Colorado: Tax Revenue From The Legal Cannabis Industry Surpasses Half-Billion Dollars

  • by Paul Armentano, NORML Deputy Director July 20, 2017

    Marijuana ScienceRevenues from Colorado’s legal cannabis industry have surpassed over a half-billion dollars since retail sales began on January 1, 2014.

    According to an analysis by VS Strategies, cannabis-related taxes and fees have yielded $506,143,635 in new state revenue over the past three and one-half years. (Local tax revenue was excluded from the analysis.) Much of the revenue raised has gone to fund school construction projects, school-drop out and substance abuse prevention programs, and grant funding.

    The half-billion dollar total far exceeds initial projections. Tax revenue from legal cannabis sales in Oregon and Washington have also exceeded regulators’ initial expectations. In Nevada, where retail sales to adult became legal on July 1, retailers reported over 40,000 transactions in just the first weekend.

    8 Responses to “Colorado: Tax Revenue From The Legal Cannabis Industry Surpasses Half-Billion Dollars”

    1. Matt says:

      This is awesome news which I heard about I think it was yesterday…..I will reply further on this later probably tonight, but folks,

      I knew I spoke too soon. Hopefully Trump will have something to say about this….he is good at playing boss, after all…

      http://www.cnn.com/2017/07/20/politics/jeff-sessions-attorney-general/index.html

    2. Julian says:

      HA-HA-HA-ha! AAAAAAAHHH-HA-ha-HA-ha-HA-ha-ha-hahahahahhahaaaaaaaa……

    3. Julian says:

      AAAAAAAAAHHHH!!! (cough-cough) AAAAAAAAAAGGGHAAAAA!!!!Hahahahahahahahahahaaaaa…

    4. Mark Mitcham says:

      That money came from the customers. You’re welcome, schoolkiddies!

    5. Julian says:

      …ok… I think I pulled myself together. Sorry, but when I see those numbers I see the faces of two faced prohibitionists like Kevin Sabet and Jeff Sessions questioning every decision they ever made to get to this point. “Well I dee-clare… that IS alot of money…”
      …and then they plunge head first up their own @$$ into more dark, ugly denial. Shame, really.
      When shaming a poltician with testimony from children with severe epilepsy doesnt work, we have to dig deeper to the only thing some crooked reps care about: the money.
      Here in Texas were looking for ways to make HB85 “germain” or relevant to the medical budget that has to pass during this special session. HB85 is almost identical to HB2107, the popular medical marijuana bill that didnt make it off the calendar in time for a floor vote.
      But how more relevant or germain to a medical spending bill can legal revenue from mmj in Texas be? I mean, what do we have to do? Wave the money other states are making from legal mmj in the Texas legislature’s faces? …heeeeey…

    6. Ray says:

      Hopefully states like Ct. take notice. They killed the tobacco Tax cash cow T hey had no backup plan or replacement. Boy tax dollars like that could help relieve the situation at hand. Why not, It’s not toxic, like their other choice.

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