Revenue From Colorado Marijuana Tax Expected To Double In 2015
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.
As of July, the state had collected $73.5 million in 2015, with $19.6 million of that flagged to fund Colorado’s public schools. For comparison, in all of 2014 (not just the first seven months) $13.3 million went to education, notes The Cannabist.
Tyler Henson, the president of the Colorado Cannabis Chamber of Commerce, attributes the increase in sales to “more and more people [becoming] comfortable with the legalization of marijuana,” he told The Guardian. “They don’t see it as something that’s bad for them.”