Colorado Has Earned Over $500 Million in Marijuana Revenue Since Legalization

Colorado Has Earned Over $500 Million in Marijuana Revenue Since Legalization

DENVER, CO Since legal, regulated marijuana sales to adults began in 2014, Colorado has received more than half a billion dollars in marijuana-related revenue, including taxes and fees,according to an analysis of state data released Wednesday by Denver-based VS Strategies.

Since 2014, Colorado has imposed a 15% excise tax on wholesale transfers of marijuana for adult use and a special 10% sales tax on retail sales of recreational marijuana, in addition to the 2.9% state sales tax. Starting July 1, 2017, marijuana became exempt from the 2.9% sales tax, and the special sales tax was increased from 10 to 15%. Colorados marijuana sales totaled over $1 billion last year alone.

The state also receives application and licensing fees from marijuana related businesses.

The report details the sources of the revenue and provides a snapshot of how it the revenue being distributed across the state:

Legalizing, regulating, and taxing marijuana for adult use has generated hundreds of millions of dollars in new revenue for Colorado, says Mason Tvert, who helped direct Colorados 2012 voter initiative that legalized marijuana in the state. Marijuana tax money has been used to improve a wide range of programs and services. It is funding everything from school construction to substance abuse treatment to fighting homelessness. While it might not fix every school or help every person who needs it, it is having a significant and positive impact on ...

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