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.
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.