Marijuana tax revenue is supposed to fund school construction in Colorado, but one district will not apply for the money and some parents are upset.
Marijuana makes money. But legalizing it doesn’t eliminate the black market or solve a state’s budget problems. Those are the lessons from Colorado’s first full year of tax collections on recreational pot.
Colorado finally knows how much tax revenue it collected from recreational marijuana in the first year of sales, and the haul was below estimates – about $44 million.
Adams County officials on Tuesday used a bingo spinner to decide which of 1,600 applicants will get to open recreational marijuana businesses.
Colorado lawmakers are heading into the third week of the 2015 legislative session, and their workload is beginning to increase.
Recreational marijuana sales in Colorado have bounced back after a slow September, when Colorado notched its first month-over-month decline for the newly legal drug.
Colorado is now selling more recreational pot than medical pot, a turning point for the newly legal industry, tax records released Wednesday show.
High hopes for tax money isn’t as expected as the state’s legal marijuana industry isn’t bringing in as much money as anticipated. In fact, tax revenue is way below expectations.
The City Council’s Government and Finance Committee discussed pot spending at its Wednesday morning meeting.
The federal government has reluctantly agreed to let Colorado be the first state to collect taxes from the legal sale of recreational marijuana, but it also has made clear it doesn’t agree with the move and may try to stop it, if isn’t tightly controlled.