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Home 🌿 Marijuana Business News 🌿 Recreational Marijuana States Brought in $200M in Taxes 🌿Recreational Marijuana States Brought in $200M in Taxes
Colorado and Washington, the first two states to legalize marijuana for recreational use in the U.S., have brought in about $200 million in tax revenue, collectively. And the revenue is already benefiting the states and their residents.
“Our philosophy has been that marijuana pays its own way,” said J. Skyler McKinley, deputy director of the Office of Marijuana Coordination in Colorado. “Every dime we bring in from legalization is dedicated to the cost of legalization. That’s regulatory framework first, then public education campaigns about safe and responsible use and then prevention and treatment programs.”
After a year and a half of legalized recreational marijuana sales, Colorado has collected over $117 million in excise taxes from both the recreational and medical marijuana industries, according to the Colorado Department of Revenue.
Washington state’s recreational marijuana retail shops began selling marijuana in July of 2014, and they are keeping pace with Colorado. Nearly $83...
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