Quantcast

Tuesday, July 29, 2014         

 Print   Email   Comment | View 14 Comments   Most Popular   Save   Post   Retweet

Marijuana tax collections booming in Colorado

By Kristen Wyatt

Associated Press

POSTED:
LAST UPDATED: 02:02 p.m. HST, Jun 09, 2014


DENVER » Colorado's marijuana market boomed in April as tens of thousands celebrated the once-underground 4/20 pot holiday.

Tax collections released Monday showed that Colorado sold about $22 million worth of recreational pot in April. That's an increase of about 17 percent from March and an increase of about 58 percent from January, the first month of retail sales.

An estimate from the Colorado Department of Revenue showed that Colorado made about $5.3 million from medical and recreational pot taxes and fees in April. That's up from about $5 million in March.

Colorado made no estimate of 4/20 visitors. But pot shops in Denver had long lines the whole weekend, and at least 30,000 flocked to a city park to mark the marijuana celebration.

Medical marijuana continues to far outpace recreational pot sales, according to April figures. Colorado's pot shops sold about $32 million in medical pot in April, or about 44 percent more medical pot than recreational pot.

Medical and recreational pot products can be the same, though medical products require a doctor's recommendation and state license before buying. Recreational pot is open to all customers over 21. Medical dispensaries were allowed to start selling to non-patients in January.

Recreational pot is taxed at a much higher rate than medical pot, which is subject only to state and local sales taxes. Recreational pot has an extra 10 percent sales tax to pay for pot regulation and consumer education such as don't-smoke-and-drive campaigns. Those sales taxes have raised nearly $7 million since January.

An additional 15 percent excise tax on recreational pot goes to school construction. That fund raised about $735,000 in April, for a total of $1.9 million since January.

Counting all taxes, licensing and fees, marijuana has brought in some $17.9 million for the state since January.







 Print   Email   Comment | View 14 Comments   Most Popular   Save   Post   Retweet

COMMENTS
(14)
You must be subscribed to participate in discussions
By participating in online discussions you acknowledge that you have agreed to the TERMS OF SERVICE. An insightful discussion of ideas and viewpoints is encouraged, but comments must be civil and in good taste, with no personal attacks. Because only subscribers are allowed to comment, we have your personal information and are able to contact you. If your comments are inappropriate, you may receive a warning, and if you persist with such comments you may be banned from posting. To report comments that you believe do not follow our guidelines, email commentfeedback@staradvertiser.com.
Leave a comment

Please login to leave a comment.
Jerry_D wrote:
Marijuana revenues. Gambling revenues. Lottery revenues. All highly profitable, and all not found in Hawaii. Go figure...
on June 9,2014 | 02:23PM
MalamaKaAina wrote:
WAKE UP HAWAII AND JOIN THE PARTY OR BE THE NEXT DETROIT!!!
on June 9,2014 | 02:29PM
usahwn wrote:
Join the party with the two pictured below. nice.
on June 9,2014 | 03:12PM
1local wrote:
in the long run is it worth it? Smoking anything will eventually produce health ailments...
on June 9,2014 | 03:37PM
kaiakea wrote:
As does any kind of medication. Even aspirin has side effects, not to mention tylenol and ibuprofen, or coffee and tea for that matter. Or if you want to take this ad infinitum, so does eating flesh, or taking milk products.
on June 9,2014 | 04:08PM
sailfish1 wrote:
who cares as long as it is smoked in their own homes and corrupts their own kids.
on June 9,2014 | 08:52PM
st1d wrote:
marijuana tax revenues rising like smoke.
on June 9,2014 | 03:35PM
atom wrote:
once they find that marijuana smoking cause lung cancer, they everyone will sue the state....lol. you know this will happen down the road.
on June 9,2014 | 04:01PM
kainalu wrote:
Google Dr. Donald Tashkin and become informed so that you don't look so ignorant. In short, Dr. Donald Tashkin, professor of medicine and pulmonologist at UCLA and a leading scientist in the area. More importantly, he was the HIRED GUN of the Federal Government. He conducted "the most extensive study of its kind" - a 30-year long study using human subjects. He found NO LINK between smoking pot and cancer of any kind.
on June 9,2014 | 04:56PM
Anonymous wrote:
everyone's doing it anyway, so might as well legalize,tax and control it. I wonder if there are any studies as to whether legalization results in increased use.
on June 9,2014 | 04:01PM
Bdpapa wrote:
5.3 million is not worth the risk for future generations.
on June 9,2014 | 04:08PM
kainalu wrote:
Yeah, because pot has really destroyed the previous generations.
on June 9,2014 | 04:50PM
kainalu wrote:
Sort of a sidebar to this story is the fact that crime has measurably decreased since the new recreational pot policy was put into practice.
on June 9,2014 | 04:52PM
headcheese wrote:
Hmmm, less crime and more tax revenue. And, our kupuna would no longer have to get their medication on the street.
on June 9,2014 | 08:01PM
IN OTHER NEWS
Breaking News
Blogs
Political Radar
`My side’

Political Radar
‘He reminds me of me’

Bionic Reporter
Needing a new knee

Warrior Beat
Monday musings

Small Talk
Burning money

Political Radar
On policy

Warrior Beat
Apple fallout