Search Results for: colorado

Colorado’s Marijuana Tax Revenues Nearly Double Last Year’s Figures

COLORADO: Legal marijuana tax revenues have been breaking records in Colorado this summer, nearly doubling monthly numbers from last year and on pace to exceed projections of legal sales that bring revenue back to the state.

Through the first seven months of this year, Colorado has brought in nearly $73.5m, putting the state on pace to collect over $125m for the year.

In 2014, experts predicted legal cannabis would bring in upwards of $70m to the state’s tax coffers. In reality, the state collected just $44m in marijuana taxes.

Sales totals fell short of projections in 2014, the first year of legalized recreational sales in the state (and the nation) But this year, tax revenue from marijuana sales is exceeding initial projections of $70m.

Colorado Marijuana Law Point Of Contention During GOP Debate; Bush Smoked 40 Years Ago

CALIFORNIA: Colorado’s recreational marijuana law took center stage for a time during the Republican presidential debate Wednesday night.

It certainly was a political point of contention.

New Jersey Gov. Chris Christie defended his position that if he’s elected president, he would enforce the federal law and make it illegal to smoke marijuana recreationally in Colorado.

Jeb Bush voted against legalizing marijuana in Florida, but he argued Colorado could make its own decisions. Then Kentucky Sen. Rand Paul went on the offensive.

“Gov. Christie would go into the state of Colorado and if you’re breaking any federal law, even though the state law allows it, he would put you in jail,” Paul said.

Colorado Marijuana Holiday Saves Growers Big Bucks

COLORADO: Colorado’s marijuana growers were the big winners Wednesday when the state suspended new recreational pot taxes, a tax quirk that saved shoppers some sales tax but saved wholesalers tens of thousands.

Prompted by a quirk in state tax law, the one-day tax suspension allowed growers to transfer a month or more of inventory without paying 15 percent excise taxes, or $300 a pound.

At Colorado Harvest Co., a chain of dispensaries in the Denver area, owner Tim Cullen saved $45,000 — before even opening his doors to the first customer.

Looking over a small tangle of pot shoppers in his suburban Denver shop, Cullen said the crowds weren’t huge but the tax break would be a big win anyway.

 

Report Looks At Impact Of Legal Marijuana In Colorado

COLORADO: A report released Tuesday by a federally-funded agency paints a picture that commercial marijuana is causing problems in Colorado.

Though the Rocky Mountain High Intensity Drug Trafficking Area says its report doesn’t make a judgment, it’s easy to make that assessment based on the statistics provided.

Marijuana supporters disagree with the findings.

“Yeah, it’s joke,” said Mason Tvert, a marijuana activist, “It would receive an F in any high school class, let alone any college class.”

Why Colorado Has A Tax-Free Holiday For Marijuana

COLORADO:  An accounting error in Colorado is paying off for marijuana consumers Wednesday, when a quirk in a state tax law prompts the state to suspend most taxes on recreational pot.

The one-day pot tax holiday means Colorado won’t collect 10 percent sales taxes on pot. The state is also suspending a 15 percent excise tax on marijuana growers.

The tax break is happening because Colorado underestimated overall state tax collections last year. Under the state constitution, the accounting error triggers an automatic suspension of any new taxes — in this case, the recreational marijuana taxes voters approved in 2013.

Colorado Just Became The First State In History To Collect More Taxes From Marijuana Than Alcohol

COLORADO: No state has ever generated more tax revenue from marijuana than alcohol—until now.

The Colorado Department of Revenue, according to recently released figures, just brought in $70 million in taxes relating to marijuana, compared to less than $42 million for alcohol taxes, over the course of a year.

This Wednesday, Colorado is declaring a marijuana tax holiday, meaning that for a single day, taxes on marijuana items will be suspended.

Pot-Infused Jewish Foods Bing Readied For Colorado Cannabis Shops

COLORADO: In recent years, marijuana has undergone a serious image overhaul, leading to, among other things, its legalization in several states. With pot no longer relegated to back alley use, shouldn’t marijuana edibles get an upgrade too? Do you really always want a brownie or candy bar? Why not release an entire line of savory pot-packed food?

Grub Street recently spoke to Josh Pollack, who has been working to bring marijuana-infused lox to the market in Colorado. He originally created the buzz-inducing salmon for a 4/20 stunt at the Denver restaurant he owns, Rosenberg’s Bagels. After receiving an enthusiastic response, he decided to focus more seriously on marijuana-infused Jewish foods.

But thanks to new laws intended to make edibles safer, Pollack has had a bit of trouble getting into pot shops. All edibles have to be packaged into specific THC servings, and for salmon, potency has been an inexact science.

Colorado Raises $150 Million From Marijuana. Will More States Legalize?

COLORADO: Colorado has brought in more than $150 million in marijuana tax revenue, according to official state data.

That doesn’t make it a budgetary panacea, warn lawmakers.

“The big lesson we tell other states is you probably shouldn’t legalize marijuana if you want to make money – that’s not why you do it,” said J. Skyler McKinley, deputy director of the governor’s Office of Marijuana Coordination, to the Huffington Post. “You do it because you think that a regulated marketplace might be safer than an unregulated marketplace, or you believe that the war on drugs didn’t work.”

These Colorado Military Vets Are Suing Over Marijuana

COLORADO:  Post-Traumatic Stress Disorder (PTSD) is a debilitating mental ailment that affects people who have experienced serious traumatic events in their lives. It is typically found in people who have served in the military during wars, people who have been sexually abused, and people who have witnessed or experienced many other dreadful situations. People suffering from the disorder will often relive these terrible experiences in their minds and feel waves of fear and depression. Almost 10 percent of the population experiences PTSD at some point in their lives.

Medical marijuana is becoming more and more popular as a treatment tool for PTSD. With an estimated 22 veterans killing themselves every day in the U.S., mostly due to PTSD, any method for fighting the illness a patient can get is important. With that in mind, nine states currently allow those who have been diagnosed with PTSD to acquire marijuana to treat their symptoms. That doesn’t mean these people are just getting high to forget their problems, but they are often using marijuana to help treat the symptoms while they seek therapy and other approaches for trying to cure the disorder. CBD, the compound in marijuana that doesn’t get people high like THC does, is said to be beneficial for people who have PTSD, so they might not be getting high at all.

Unfortunately for veterans and others with PTSD who want to get medical marijuana in Colorado, the illness is not on the list of reasons someone can get a medical marijuana card. The state government appointed a board of experts to look at if PTSD should be added to the list of reasons to get a medical card, and that board decided against it in July. Now, five PTSD patients from Colorado are suing the Colorado Department of Public Health and the Environment and the Colorado Board of Health to get the decision changed.

 

Colorado Resorts Continue Rocky Mountain Quest To Attract Oregon Skiers

COLORADO:  Hey, Oregon skiers, the heavy breathing you feel over your shoulder may by a representative of a Rocky Mountain ski area trying to get you to go skiing or snowboarding there this winter.

Hot on the heals of an Aug. 20 Portland visit by representatives of Ski Utah, marketeers of Colorado skiing and tourism wined and dined Portland journalists on Aug. 26. They hit Seattle, too.

The Utah visit beat the arrival of my first Powder magazine of the season by one day and the Colorado visit beat Ski magazine’s arrival by two days.