How Are Marijuana Taxes Faring?
In four states (Alaska, Colorado, Oregon, and Washington State), retail sales of marijuana are both legal and taxable. Of these states, Colorado was the first to implement sales and excise taxes on legal marijuana and now has over two years’ experience collecting those taxes. The state is collecting roughly $90 million in marijuana excise taxes alone each year—an amount short of the $162 million it collects from cigarette taxes, but that far exceeds the $42 million it receives from taxes on alcohol. When state-level sales taxes, license fees, and application fees are added to the picture, Colorado’s haul from marijuana taxes rises to roughly $130 million per year, with millions more flowing directly to local governments via their own sales taxes on marijuana.
As the chart below shows, marijuana tax revenues have risen rapidly in Colorado throughout most of the last two years. The same is true in Washington State—the...
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