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Colorado’s Marijuana Tax Revenue Will Top $100 Million This Year

Since Colorado legalized marijuana in 2014, the state has seen an increase in green in every way imaginable. The Guardian reports that the state will pull in over $125 million in taxes and fees from marijuana this year, having brought in $73.5 million so far. That’ll be an eighth of a billion dollars for a state of 5.4 million people — a remarkable number, made even more outstanding when compared to Colorado’s other money-making ventures.

Looking at information available on the Governor’s Office of State Planning and Budget’s website, you can see just how lucrative marijuana taxes are for the state. Colorado’s cut includes a 10 percent state marijuana tax, 2.9 percent sales tax, and 15 percent excise tax, according to the state’s revenue department.

Projections held that marijuana taxes would rake in $85.8 million this year and $103.1 million next year — but the Centennial State is way out in front of that schedule. That’s a bottom-line argument to get the plant on the books. Weed itself is not going to create a windfall, but marking it up with legalization will.[Read more at Inverse.com]

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