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Home 🌿 Marijuana Business News 🌿 Marijuana is Bringing in Record Tax Cash for Colorado 🌿Marijuana is Bringing in Record Tax Cash for Colorado
If additional tax revenues are the proverbial carrot-and-stick that will convince state legislators across the nation to buy into the idea of legalizing marijuana, then Colorado’s recent numbers are sure to have lawmakers frothing at the mouth. We’ve been aware the grand experiment that is marijuana legalization, playing out in both Washington and Colorado, has been a success on some level. But new numbers show states could benefit even more than anyone predicted.
Colorado, which enacted its legal marijuana trade nearly two years ago, has been raking in tax revenues with surprising efficiency. But the most recent numbers from the state’s Department of Revenue show marijuana taxes are outweighing other revenue streams, even alcohol. Over the course of the past year, Colorado has seen $70 million in marijuana taxes filter into state coffers.
Alcohol sales? A mere $42 million.
According to a recent article from The Daily Caller, a...
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