Colo. Weed Has Already Brought In $1.2M In Taxes
Experts say the large take could mean over $100 million annually, beating state forecasts by almost $40 million.By Kristian Mundahl | February 3, 2014
Colorado's fledgling marijuana economy is already rolling. A recent survey by NBC showed dispensaries earned the state more than $1 million in tax revenue for January alone.
Financial experts say the take could mean more than $100 million annually for the state, crushing the previous projection of $67 million. Impressively, of the 18 weed shops surveyed, several had only been selling for four days due to license complications.
Revenue from marijuana would easily exceed Colorado's $40 million in annual alcohol sales taxes, thanks in large part to high state taxes that have hit nearly 29 percent in Denver.