Friday, February 13, 2015

Colorado is making much less money than it expected from marijuana sales

TDB:

According to the Colorado Department of Revenue, the state collected $44 million in taxes from recreational marijuana in 2014, $25 million less than predicted. Recreational marijuana sales didn’t merely fail to surpass expectations, they failed to meet them.

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Coloradoans bought less recreational marijuana than they could have—which means either they stopped using it or bought it somewhere else. With one in eight Coloradoans smoking marijuana in the last month, the latter seems more likely.

Looking at the taxes on cannabis in the state, it’s not hard to see why. Pot taxes in Colorado are steep.