Colorado Cannabis Tax Benefits Schools

Here’s what Colorado is doing with its cannabis taxes, and what your state might do when the time comes, too.


In the first five months of 2015, the state’s pot-funded excise tax that collects money earmarked for school construction projects brought in $13.6 million, which is more than it did in all of 2014.

While the total for the year may not reach the $40 million number used to lure voters into legalizing recreational marijuana, backers say they are still optimistic.

“It sounds very encouraging,” said state Senator Pat Steadman, D-Denver. “Voters wanted the school capital construction program to benefit, and despite some bumps in the road at the beginning, it looks like what was intended is coming to fruition.”
. . .
This year, from January to May, the excise tax earmarked for schools brought in $13.6 million; the money from the excise tax has grown to $3.5 million in May from $2.5 million in March. The tax brought in just $13.3 million in 2014. The jump is partly because there are more marijuana stores and partly because shops benefited from a one-time tax-exempt transfer.
. . .
With the school taxes soaring — seeing increases of $400,000 to $500,000 per month for three consecutive months — many wonder where the totals will end up at the end of 2015, and if they’ll near the $40 million mark. A conservative estimate would place the school taxes in the $25 to $30 million range. But, if future months are equal to May’s record-setting figures, the tax will raise more than $38 million by the time the calendar turns to 2016.


Find a lot more detail at the original post HERE.

Tax revenue, heath benefits, new jobs in an emerging economy vs. 80 years of lies. It’s taking a while, but cannabis will win this fight.


[Image via: Google images “cannabis in Colorado”]

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Author: DavidB

a heathen, but hopefully not an unenlightened one

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