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Colorado marijuana tax for schools hits record, exceeds 2014 total

Submitted by Marijuana News on Wed, 07/15/2015 - 09:28

DENVER — A year after Colorado's marijuana tax for schools came in far short of its goal, the fund is setting records and has accrued more money in the first five months in 2015 than it did for all of 2014.

Recently released tax data showed the 15 percent excise tax for school construction hit $3.5 million in May, the most recent data available. That brings the 2015 total to $13.7 million, edging the $13.3 million it raised in all of 2014.

The jump is partly because there are more marijuana stores and partly because shops last year were given a one-time tax-exempt transfer of their medical plants to the recreational pot side.

"It sounds very encouraging," said state senator Pat Steadman, D-Denver.

"Voters wanted the school capital construction program to benefit, and despite some bumps in the road at the beginning, it looks like what was intended is coming...

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URL: 
http://gazette.com/colorado-marijuana-tax-for-schools-hits-record-exceeds-2014-total/article/1555577

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