Colorado To Offer One-Day Tax Holiday On Marijuana

Washington state raked in more than $70 million in taxes during its first year of legal and regulated marijuana sales.

COLORADO:  Colorado will repeal sales taxes on marijuana Sept. 16, thanks to a quirk in its constitution. The one-time-only holiday from the 10 percent state sales tax on recreational pot is likely to generate buzz in the first state in the nation to legalize marijuana. The little-noticed provision is part of a larger bill that Read the full article…

More Colorado Marijuana Tax Dollars Are Rolling In

MONEY PLANT

COLORADO:  Those pot tax dollars are rolling in, and they don’t show signs of letting up anytime soon. The Colorado Department of Revenue in June collected slightly more in tax revenue than the month before, according to its recent sales report. The state collected $4,775,679 from marijuana-related sales tax in June 2014, up from $4,511,668 collected in Read the full article…

Colorado’s Marijuana Sales Are Skyrocketing

With such promising numbers and a continuing upward trend in sales, the legalization of recreational marijuana has had a positive effect on Colorado’s economy.

COLORADO:  It hasn’t been long since Colorado officially legalized marijuana, and within a short time period, marijuana sales are already flourishing. According to the Colorado Department of Revenue, in March alone, retail taxes on recreational marijuana reeled in $1.898 million to the Colorado government. After adding in medical marijuana sales tax and licenses, the first three months Read the full article…

Skyrocketing Tax Revenues from Pot in Colorado–Will Texas Take Note?

Austin City Council will consider a resolution supporting medical marijuana in Texas.

TEXAS: Will the booming taxes being collected in Colorado from marijuana be enough to turn the heads of Texas lawmakers in favor of legalization, or at least lessening the penalties on pot and allowing for taxation?   Retail marijuana sales in Colorado brought in $1.4 million in January, and that number jumped to nearly $1.9 million Read the full article…

Colorado Expects To Reap Tax Bonanza From Legal Marijuana Sales

Gov. John W. Hickenlooper estimated that the state’s marijuana industry could reach $1 billion in sales in the next fiscal year, with recreational sales making up about $610 million of that business.

COLORADO:  For Colorado’s new flock of recreational marijuana growers and sellers, Thursday was Tax Day — their first deadline to hand over the taxes they had collected during their inaugural month of sales. And as store owners stuffed cash into lockboxes and made the nervous trek to government offices, new budget numbers predicted that those Read the full article…

How High Is Too High For Colorado Pot Tax?

According to financial data released last week, the state also raked in significantly more money taxing marijuana than it did taxing alcohol for the yearlong period of July 2014 to June 2015, with marijuana netting almost $70 million and alcohol just under $42 million.

COLORADO: After legalizing recreational marijuana last year, Colorado voters Tuesday are considering a tax on the drug. The ballot measure represents the “politics of compromise,” said Rep. Jonathan Singer, the Democratic state legislator behind the tax proposal. The tax on marijuana must be high enough to generate revenue for enforcement but low enough to deter consumers Read the full article…