Colorado passes $1 billion in marijuana state revenue – Fasti News

Colorado, where there are more than 1,000 licensed marijuana growers, has created a “gray market.” “They grow it legally and then sell it illegally,” Kish says. “So, the state’s missing out on the tax.

Driving under the influence of marijuana would remain illegal under Prop 64, she said, and many young adults already have access to marijuana. "What Prop 64 does is it takes 60 percent of the $1.

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Despite that, Colorado’s marijuana retail sales keep booming: Sales almost hit $1 billion in. Center calculates that state and local tobacco taxes brought in $18 billion in 2013, but with fewer.

The total includes over $1 billion in medical marijuana sales in California, nearly $1 billion in legal marijuana sales in Colorado, and more than a half-billion dollars in sales in Washington state .

Despite that, Colorado’s marijuana retail sales keep booming: Sales almost hit $1 billion in. calculates that state and local tobacco taxes brought in $18 billion in 2013, but with fewer people.

“It’s not good for the state.” The state anticipates it would raise hundreds of millions of dollars to $1 billion annually in tax revenue that it would. studying the effects of legalized marijuana.

64 passes, the adult use market could add an estimated $1.6 billion in sales revenue. state to legalize medical marijuana use in 1996, it voted down recreational use in 2010. But recreational.

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The predictions came during a quarterly revenue. state capitol over the last two years. The Colorado Department of Transportation says it faces an estimated $9 billion dollar backlog over the next.

California, Massachusetts, Nevada and Maine have voted to legalize recreational marijuana in their states, while Arizona was the lone state of. injected Colorado with nearly $120 million in new tax.

In 2014, 70 percent of marijuana-related arrests in California involved people of color, according to state department. sixty percent of the $1 billion in annual tax revenue expected to be.

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Florida could rake in big bucks in sales and in tax revenue if Amendment 2 passes in November and medical marijuana becomes legal. State projections of sales range from $138 million to $5.6 billion ..

The total includes over $1 billion in medical marijuana sales in California, nearly $1 billion in legal marijuana sales in Colorado, and more than a half-billion dollars in sales in Washington state .