Gov. Hickenlooper: Colorado marijuana market exceeds tax hopes
Source: Associated Press
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.
Read more: http://m.gazette.com/gov.-hickenlooper-colorado-marijuana-market-exceeds-tax-hopes/article/1514974
Timez Squarez
(262 posts)then pour the taxes back to those who paid for it. The taxpayers. In a HUGE refund. Yearly.
TABOR and stuff.
iamthebandfanman
(8,127 posts)might be in order..
id imagine if I lived in the state id want them to use it on roads, schools, etc...
but that's just me.
pipoman
(16,038 posts)For anyone who needs them should be first on the list imo.
joshcryer
(62,276 posts)Tax it as much as alcohol.
Scuba
(53,475 posts)Watch for a reduction in alcohol-induced accidents and crimes. I predict measurable benefits.
wildbilln864
(13,382 posts)on antidepressants and pain killers. Won't need that zoloft, valium & prozac as much!
Scuba
(53,475 posts)wildbilln864
(13,382 posts)joshcryer
(62,276 posts)It's the biggest thing I expect from these changes. Less alcohol related deaths or injuries.
Arkana
(24,347 posts)Iliyah
(25,111 posts)That gun company that left CO for TX - self profit.
jtuck004
(15,882 posts)when you are less restrictive, perhaps. And less of an unregulated market, perhaps.
arcane1
(38,613 posts)RainDog
(28,784 posts)Warren Stupidity
(48,181 posts)bigbrother05
(5,995 posts)Then a flood of followers chasing the dollars regardless of the "moral" questions.
Feral Child
(2,086 posts)now I'm waiting for the dominoes.
imthevicar
(811 posts)Rush the Trough!
jmowreader
(50,560 posts)Pot will never be legal in Idaho, Wyoming or Utah.