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In 2014, Colorado invested $2 million generated from marijuana sales tax revenue on campaigns aimed at anti-marijuana education of minors and the state has plans to spend double that amount, $4 million in 2015 (out of a total projected marijuana sales tax revenue of $125 million).
Colorado has experienced significant financial benefit as a result of legalization, with marijuana tax, license and fee revenue surpassing $1 billion as of 2019. [63] This revenue has been used to finance youth, education and health programs; the first $40 million of annual fee revenue is used to repair and upgrade local elementary schools and ...
Colorado legalized pot in 2012, and in 2021 the state raked in more than $400 million in tax revenue — with that money going to public schools, health care, and substance abuse prevention and ...
When Colorado voters passed the law that legalized marijuana, the voters approved using tax money generated from marijuana sales for schools, police, and drug education. As of April 2015, projections for marijuana tax revenue for Colorado were at $58 million, but it was unclear at that time whether the additional revenue would have to be ...
Marijuana has come a long way from its status as an illicit substance to now being recognized for its medical and recreational purposes in many states. Nine states have fully legalized it, and more...
The Colorado Department of Revenue reported that recreational and medical marijuana sales were at about $589 million between January and May. It's safe to assume that this figure would increase ...
In 2019, the US gained a total of 1.7 billion dollars in tax revenue due to the legalization of marijuana. In 2021, that number more than doubled to 3.7 billion dollars. [9] The increase in tax revenue being a driving factor in the legalization of marijuana is similar to the effects of the repeal of prohibition.
Marijuana just became legal in Colorado, but recreational sales of the drug will come with a big excise tax of 25%. Will that tax entice other state governments to follow Colorado's lead? In the ...