FORT COLLINS, Colo. (CBS4)- An analysis of Amendment 64 shows that legalizing and taxing marijuana will not lead to a windfall for Colorado.
The report is from the Colorado Futures Center at Colorado State University.
The study is based on a retail price of $185 an ounce, that current levels of pot usage continue and that lawmakers and voters will approve the proposed tax levels.
The study shows that the 15 percent excise tax proposed at the wholesale level will generate less than $22 million for school construction, well short of the $40 million dedicated by Amendment 64.
The study also found retail sales taxes will generate $108 million which is what state lawmakers will set aside to pay for regulating the industry.
ADDITIONAL RESOURCES: CFC Amendment 64 Report