Legal weed earned Colorado $44 million in tax revenue last year
See the original posting on The Verge
Before Colorado legalized the recreational use of marijuana, it was predicted the state could earn around $70 million in tax revenue for freeing the weed. After the first stores selling cannabis opened in on January 1st, 2014, Colorado state officials have now confirmed how much drug money they received in a full year. That figure is $44 million less than projected.
The discrepancy between expectations and reality has led to gloomy projections for the weed business from some corners, but others have argued the figure doesn’t take into account the additional revenue provided by medical marijuana. Add that number and the figure rises to $76 million. Animal notes that the $44 million also doesn’t factor in money earned from less direct…