Posted on 02/22/2014 5:11:33 AM PST by Wolfie
Governor: Colorado pot market exceeds tax hopes
Denver -- Colorado’s legal marijuana market is far exceeding tax expectations, according to a budget proposal released Wednesday by Gov. John Hickenlooper that gives the first official estimate of how much the state expects to make from pot taxes.
The proposal outlines plans to spend some $99 million next fiscal year on substance-abuse prevention, youth marijuana-use prevention and other priorities. The money would come from a state 12.9 percent sales tax on recreational pot. Colorado’s total pot sales next fiscal year were estimated to be about $610 million. Retail sales began Jan. 1 in Colorado. Sales have been strong, although exact figures for January sales won’t be made public until early next month.
The governor predicted sales and excise taxes next fiscal year would produce some $98 million, well above a $70 million estimate given to voters when they approved the pot taxes last year. The governor also includes taxes from medical pot, which are subject only to the statewide 2.9 percent sales tax.
Washington state budget forecasters released a projection Wednesday for that state, where retail sales don’t begin for a few months.
Economic forecasters in Olympia predicted that the state's new legal recreational marijuana market will bring nearly $190 million to state coffers over four years starting in mid-2015. Washington state sets budgets biennially.
(Excerpt) Read more at bigstory.ap.org ...
I have to go there on business and wonder how many stoners are out there driving.
I have to go there on business and wonder how many stoners are out there driving.
Someday young men will compete on producing free, cheap, Arab, Muslim, Cannabis.
Having said that, I am amazed politicians/pencil pushers are so surprised it really IS a cash cow.
NOW ... if Detroit would retool the 57 Chevy Bellaire using modern material and accoutrements but keep it aesthetically identical ...
Coloradans are niw much easier to control now. They’re also getting fatter and lazier and much too docile to rise up to oppose the government plus they are fleecing them much better than antiipated and collecting a lot more sales tax on junk food items created by sales after midnight.
So. Government is primarily concerned on the tax revenue they can get from mostly anything.
Billions in taxes on the cigarettes they hypocritically condemn.
Millions in taxes on the pot their Federal Government has spent Trillions on in an effort to eradicate along with other drugs.
Millions in taxes on the gasoline the SUVs/Truck guzzle which they condemn.
And on and on and on. Nothing is out of the realm of ‘illegal’ IF there are millions/billions in taxes to be had.
Here’s a thought, Government. There have been 55 million abortions since Roe vs. Wade....think of what you could have gotten had you TAXED each abortion at 10 or 20 or 30 or more percent. You guys are missing out on a real cash cow.
Coloradans are now much easier to control too. They’re also getting fatter, lazier and much too docile to rise up to oppose the government plus they are fleecing them much better than antiipated and collecting a lot more sales tax on junk food items created by sales after midnight.
The allure of mo tax money to squander is irresistible to these greedy shortsighted idiots/
This is why more states are going to legalize it (UNFORTUNATElY!!!)
These legal marijuana shops should be called Democrat voter factories where they manufacture new ones. New docile idiots Obama voting morons.
Hey, this is free money that’s coming out of the sky. I mean it’s not like it’s just another tax, or that the money is coming from the people and going to the government.
I live in Kansas. I was sitting in a courtroom yesterday waiting on a judge to sign some orders. She was doing a hearing in another case where mom had accused dad of using drugs. Judge had asked dad under oath whether he used drugs and he said no. Then she ordered a drug screening within one hour and said oh, wait, I was in Colorado last week so I will test positive. She was furious. So that is going to be the excuse now in Kansas for testing positive. BTW, he still perjured himself but claims since it’s legal in Colorado its no big deal.
That’s why I don’t travel to States with bars.
Do you think the same of drunk drivers in every state you go to?
Wait, I though pot turned people in violent maniacs prone to acts of destruction? You people have to make up your mind.
Invest in Ding-Dongs and Twinkies.
John Denver (RIP) predicted it years ago: Rocky Mountain High.
Giving government even more money, pure brilliance.
If one of the major moter companies would make a car and truck without all the electronics - just simple motor - no frill so that the “mechanical minded” could work on their own vehicles, I’d guarantee it would be a too seller
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