Indopedia All Things Marijuana
While a number of states have decided to jump on the recreational marijuana bandwagon over the past few years, the movement would be less emboldened without the proven success of Colorado. Nowadays, a number of lawmakers are turning to the Rocky Mountain region for advice on how to implement cannabis legalization the right way.
Thanks to the legalization of recreational cannabis sales in 2014, an incredible amount of tax revenue and economic opportunities have been created across The Centennial State. Earlier this week, canna-centric government relations and strategic communication firm VS Strategies published an analysis revealing that retail marijuana sales have generated more than $500 million in tax revenue for Colorado.
According to publicly available data released by Colorado’s Department of Revenue, this milestone was originally surpassed in May 2017. The report goes on to detail the annual growth of the state’s collected taxes and fees. In 2014, sales totaled $76 million, followed by $135 million in 2015, and up to $198 million in 2016. This year, projections are that the upward trend will continue, as sales have already totaled $96 million over the first…
