Colorado’s legal pot industry may be booming, but state lawmakers aren’t sure how to spend the windfall.
Sales tax revenue on recreational marijuana in Colorado is down compared to early projections.
After months of uncertainty about marijuana and its tax potential, Colorado lawmakers start work Tuesday deciding how to spend pot taxes.
This week in the Colorado Legislature some of the highlights state lawmakers will be discussing are a bill to undo part of a teacher-tenure law, a proposal on how to spend marijuana tax money, regulation for companies like Uber and Lyft, and cell phone use while driving restrictions.
Colorado doesn’t know how much money it’s going to get from marijuana taxes, but that doesn’t mean it’s too soon to argue about spending it.
Colorado made roughly $2 million in marijuana taxes in January, state revenue officials reported Monday in the world’s first accounting of the recreational pot business.
The taxes on recreational marijuana might go a lot higher than first thought. Smokers buying at shops in Denver may pay up to 35 percent in taxes.