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.
Colorado budget-writers are nearing a decision on how new marijuana taxes should be spent.
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.