Skip to comments.Governor: Colorado pot market exceeds tax hopes
Posted on 02/22/2014 5:11:33 AM PST by Wolfie
Governor: Colorado pot market exceeds tax hopes
Denver -- Colorados 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. Colorados 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 wont 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 dont 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. Theyre 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
Politics ...stop trying to fix something that's not broken is another area I wish they'd just go on vacation for four years.
Raising money by selling drugs to create programs to stop people from using drugs.
Liberalism is truly a mental disorder.
Probably as many as there were previously, and probably as many as there are where you live.
Welcome to the Idiot Nation. Keep the low brows amused and they will do what the government wants. Just like the lab rats.
The day will come when Coloradoans regret this decision, and maybe even repeal it.
Don't give the Dems any ideas. Next, you will see the druggie version of motor-voter, doper-voter. Register to vote when you get your dope.
What did the dopers pay for an ounce prior and post legalization? Just curious.
The headline implies that this tax money has already rolled in to the government. The story says that these numbers are estimates from the politicians. Pure BS. Where did the potheads get all this money to pay these kinds of taxes anyway?
> Wait, I though pot turned people in violent maniacs prone to acts of destruction? You people have to make up your mind.
While driving an automobile or heavy machinery though I think Alcohol is worse in that regard. As a gateway drug to harder drugs, yes.
Where did the potheads get all this money to pay these kinds of taxes anyway?
Look at the crime increase in Colorado. That’s the answer.
Also, notice that there is not even the thought of using this new found revenue to pay down their debt. That’s not even on the radar. They intend to waste every damn cent of this new found revenue, especially on “other priorities”. I have an idea: why don’t they use this new revenue to pay down their debt? Oh I see, what fun is THAT?
> Where did the potheads get all this money to pay these kinds of taxes anyway?
From the taxpayers probably. They get in line with someone who wants to buy groceries cheap. They buy the goceries for them with their EBT cards. They walk out of the store and the welfare recipient hands over the groceries for cash. Simple.
I personally think decriminalization would have been a lot smarter but that would require a compromise. Better to pay a ticket if caught rather than willingly hand money to government every day.
Excellent, I wonder how much the star would profit on the sale of heroin and ruffies?
I would suspect about the same number as the last time you were there prior to the change in the law.
I was in Denver for a few days this week. A report on the news yesterday said all the tax revenue from the legal pot would be used to clean up the problems caused by it. Also, supporters said the black market pot would dry up and it is actually exploding. There were reports of lines to buy illegal, tax free pot in some city parks.
So the politicians are excited about the tax revenue from pot so they can spend the money on drug abuse programs?
About the same amount as there was before it was legal.
You beat me to it.
How do tell the difference between legal pot and illegal pot?
Dopehead nation. Governments profitting from peddling dope, growing itself bigger and bigger with tax receipts. How lovely. America’s becoming a really evil place. Hard to imagine this is the same country I was once willing to give my life for.
Let me guess. They become Log Cabin Republicans?
You see every angle of a ‘modern’ car’s body hast to be beveled down so that it resembles an egg shape, losing ALL personality. That way the car’s MPG will increase a whopping .0001.
Denver is known as the “mile high” city for a reason.
The illegal pot you buy on street corners is much cheaper. True! In Colorado legal pot goes for 2x the illegal price and the illegal stuff is prolly as good or nearly so....I suppose. The pot heads can render judgement on this
Exactly, recreational pot for recreational car crash homicides.
“I have to go there on business and wonder how many stoners are out there driving.”
The same number driving in your area right now.