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Colorado Collects Over $4 Million Last Month in Marijuana Taxes

This tax revenue is helping to improve the budgets of local governments and fund education in Colorado.

While others states are currently spending millions arresting, processing, and jailing people for using a plant most Americans no longer think should be illegal, Colorado continues to bring in significant revenue from it.

According to the latest figures from the Colorado Department of Revenue, the state collected over $4 million in marijuana taxes and roughly another one million in related fees in March.

Since recreational marijuana faces special excise taxes roughly three quarters of the tax revenue comes from recreational marijuana while about one quarter comes from taxes on medical marijuana, even though more medical marijuana was sold last month.

It is likely that marijuana tax revenue will continue to increase over the next several months and years as the recreational system ramps up.

This tax revenue is helping to improve the budgets of local governments and fund education in Colorado.

Jon Walker is the author of After Legalization: Understanding the future of marijuana policy

Photo by mateoutah under Creative Commons license

CommunityJust Say Now

Colorado Collects Over $4 Million in Marijuana Taxes in April

This tax revenue is helping to improve the budgets of local governments and fund education in Colorado.

While others states are currently spending millions arresting, processing, and jailing people for using a plant most Americans no longer think should be illegal, Colorado continues to bring in significant revenue from it.

According to the latest figures from the Colorado Department of Revenue, the state collected over $4 million in marijuana taxes and roughly another one million in related fees in March.

Since recreational marijuana faces special excise taxes roughly three quarters of the tax revenue comes from recreational marijuana while about one quarter comes from taxes on medical marijuana, even though more medical marijuana was sold last month.

It is likely that marijuana tax revenue will continue to increase over the next several months and years as the recreational system ramps up.

This tax revenue is helping to improve the budgets of local governments and fund education in Colorado.

Jon Walker is the author of After Legalization: Understanding the future of marijuana policy (more…)

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Jon Walker

Jon Walker

Jonathan Walker grew up in New Jersey. He graduated from Wesleyan University in 2006. He is an expert on politics, health care and drug policy. He is also the author of After Legalization and Cobalt Slave, and a Futurist writer at http://pendinghorizon.com