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Colorado pulls in $44 million in recreational pot tax in 2014
By Kristen Wyatt, Associated Press
DENVER — Colorado finally learned Tuesday how much tax revenue it collected from recreational marijuana in the first year of sales, and the haul was below estimates — about $44 million.
The release of December sales taxes gave Colorado its first full calendar year of the taxes from recreational pot sales, which began Jan. 1, 2014.
Colorado was the first government anywhere in the world to regulate marijuana production and sale, so other governments are watching closely. In Washington, where legal pot sales began in July, the state had hauled in about $16.4 million in marijuana excise taxes by the end of the year; through November, it brought in an additional $6.3 million in state and local sales and business taxes.
Colorado’s total haul from marijuana for 2014 was about $76 million. That includes fees on the industry, plus pre-existing sales taxes on medical marijuana products. The $44 million represents only new taxes on recreational pot.
DENVER — Colorado finally learned Tuesday how much tax revenue it collected from recreational marijuana in the first year of sales, and the haul was below estimates — about $44 million.
The release of December sales taxes gave Colorado its first full calendar year of the taxes from recreational pot sales, which began Jan. 1, 2014.
Colorado was the first government anywhere in the world to regulate marijuana production and sale, so other governments are watching closely. In Washington, where legal pot sales began in July, the state had hauled in about $16.4 million in marijuana excise taxes by the end of the year; through November, it brought in an additional $6.3 million in state and local sales and business taxes.
Colorado’s total haul from marijuana for 2014 was about $76 million. That includes fees on the industry, plus pre-existing sales taxes on medical marijuana products. The $44 million represents only new taxes on recreational pot.
the rest from the cannabist, the denver post's marijuana news site.
i'm torn on the ballot measure to keep the surplus taxes. most of the money goes to the schools, but why should this be the only tax surplus that doesn't get refunded? not that i ever recall getting a tabor refund before.
