$150 million in tax revenues will be coming to Colorado state after the sales of marijuana continue to boom and fly past the $1 billion mark!
Good, Bad? Well…. the tax numbers, reduced action needed from police and seemingly no uptick in crime all point to the first point!
That billion has been reached in the first 10 months of the year!
The figures were released by the Colorado Department of Revenue on Monday. They show that from January through October dispensaries in the state sold $720.7 million of recreational marijuana. $371.4 million of medical marijuana was solid in the time period. That’s almost $1.1 billion. W.O.A.H!!!!!!
So, of the $150 million in taxes, $50 million will be going to public school construction projects. This is a requirements by Amendment 64, the bill that allowed the legal sale of recreational marijuana in 2014.
The rest of the excise tax will go to the state’s public school fund with the rest going to substance abuse and treatment!
Who says that stoners do nothing good for society!
Read more in the Huff here.
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