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Home 🌿 Recreational Marijuana News 🌿 Colorado's $70m in marijuana taxes proves legalized pot is big business 🌿Colorado's $70m in marijuana taxes proves legalized pot is big business
It seems as though Colorado is rolling in the green, thanks to legalized marijuana.
The state is enjoying a steady flow of dough (and presumably cookie dough sales) since it made pot legal for recreational use in 2012 – though it wasn’t distributed commercially until 2014.
Reports now show it’s been a good move for Colorado, which has racked in $70 million in marijuana taxes between July 2014 and June 2015. That’s significantly more than what the state’s alcohol-specific taxes brought in during the same time period – $42 million.
On Wednesday, Colorado showed its appreciation for pot users by instating a day long “tax holiday,” where the substance in its many forms could be purchased tax-free.
“Marijuana taxes have been incredibly productive over the past year, so this tax holiday is a much-deserved day off,” Mason Tvert, director of communications for the Marijuana Policy Project, told the Colorado...
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