Governor: Colorado Pot Market Exceeds Tax Hopes

COLORADO:  Colorado’s legal marijuana market is far exceeding tax expectations, according to a budget proposal released Wednesday by Gov. John Hickenlooper that gives the first official estimate of how much the state expects to make from pot taxes.

The proposal outlines plans to spend some $99 million next fiscal year on substance abuse prevention, youth marijuana use prevention and other priorities. The money would come from a statewide 12.9 percent sales tax on recreational pot. Colorado’s total pot sales next fiscal year were estimated to be about $610 million.

Retail sales began Jan. 1 in Colorado. Sales have been strong, though exact figures for January sales won’t be made public until early next month.

The governor predicted sales and excise taxes next fiscal year would produce some $98 million, well above a $70 million annual estimate given to voters when they approved the pot taxes last year. The governor also includes taxes from medical pot, which are subject only to the statewide 2.9 percent sales tax.

States High On Medical Marijuana Technology

COLORADO: As medical marijuana legislation heads to voters in several states this fall, legislators are relying on technologists to prevent their dreams of success from going up in smoke.

There is some cause for concern, despite medical marijuana’s newly polished public image and the growing crop of solutions targeted specifically at the $2.34-billion market. RFID, sensors, and other technologies lauded as the antidote to black market sales to illicit users haven’t always met with success. But implementation, time constraints, and limited budgets, not technology, appear to blame. [Read more…]

The Priceline Of Pot: WikiLeaf Offers Discounts To Marijuana Customers

COLORADO: When you book a flight online, you’re unlikely to use American Airline’s website directly. Like most money-conscious consumers, you’ll visit a price comparison site like Kayak or Expedia instead. Same goes for hotel reservations, rental cars, even consumer goods ranging from iPhone cases to toothbrushes.

Why not apply that same logic to pot?

That’s the concept behind WikiLeaf, a comparison shopping website for medical marijuana that launched Jan. 22. Created by Dan Nelson, a Seattle-based financial blogger and medical marijuana patient, the site allows medical (and soon, retail) marijuana users to locate nearby dispensaries in four states — California, Colorado, Washington and Oregon — and comparison-shop for the lowest rates on weed. [Read more…]