Graph showing Colorado Monthly tax revenue from marijuana sales in 2014
~
The stunning numbers provide further evidence that the state's decision to end marijuana prohibition has become a roaring success.
 
These new figures account for all legal purchases. Revenues in 2014 were pretty evenly split between proceeds from the sale of medical marijuana, which accounted for $385.9 million, and recreational pot, which fetched $313.2 million from the newly open market, according to the Cannabist.
 
But of all the small businesses and dispensaries that popped up over the past 12 months, none have seen a higher return than the state government. The massive influx of new tax money — $44 million from recreational pot and a whole lot more from a generally improving economy — means Colorado will receive every cent of its estimated tax income and be compelled by law to shell out the surplus to taxpayers.
 
In the graph above, you can see how much marijuana tax revenue increased month over month last year ~
 
Driving the increase: The increase in revenue from January to December is closely tied to a corresponding spike in recreational purchases, which are taxed at a much higher rate than medical sales. That discrepancy in tax policy, as the Brookings Institution's John Hudak told the Washington Post in September, has been among the reasons for the recreational market's consistent but slow growth. 
 
But there were psychological hurdles too. 
 
The growth in legal spending "might reflect a relaxation of state residents where people are coming around and saying, 'OK, this is real, this is legit and I'm not going to get arrested for it,'" Hudak told the Washington Post.
 
Another speed bump was written into the new law. From January through the end of June, only previously existing medical dispensaries (made legal by a November 2000 referendum) were allowed to apply for recreational licenses. Not surprisingly, recreational sales and accompanying tax revenue grew steadily throughout the second half of the year. By December, Colorado's recreational sales had come to account for more than half of all marijuana purchases, up from less than 40% in January.
 
With dozens of states now locked in debates over the potential for legalization, news of Colorado's public and private windfall should add strength to the groups arguing to end prohibition. Because whatever their personal feelings on marijuana, this kind of green is very difficult for any American politician to turn down.
 
Gregory Krieg ~ Policy.Mic ~ February 13, 2015
 
~
February 18, 2020

Massachusetts’ burgeoning marijuana industry is creating jobs…

With the burgeoning marijuana industry comes new jobs. And most everyone taking these jobs is entering the industry for the…
February 18, 2020

Report: NFL CBA Proposal Includes Reduced Penalties…

in Sports

The proposed NFL collective bargaining agreement reportedly features far less stringent policing of marijuana use by players.
February 18, 2020

Medical Marijuana Patients With ADHD Use Fewer…

When people with attention-deficit hyperactivity disorder (ADHD) consume more medical marijuana they tend to use fewer prescription drugs, including powerful,…
February 18, 2020

U.S. Academics Are Diving into the Cannabis…

“Hemp and marijuana has really come to the forefront in a lot of economic sectors in the country. We’re not…
February 17, 2020

Missouri medical marijuana job fair attracts hundreds…

The state of Missouri awarded nearly 350 operating licenses for the medical marijuana industry. Now there are thousands of jobs…
February 17, 2020

Canadian seniors study aims to find out…

Pilot study of long-term care residents tests therapeutic effects of cannabidiol on seniors.
February 17, 2020

Here Are All the U.S. States That…

Until recreational and medical cannabis are federally legalized, it’s nice to know where each state stands when it comes to…
February 14, 2020

Browns, Bengals fans aren’t eligible for medical…

in Sports

Cleveland Browns and Cincinnati Bengals fans can’t legally use medical marijuana to treat the suffering caused by their teams, the…
February 14, 2020

Why cannabis sponsors the cleanup of more…

Marijuana companies are paying for 66% of state’s sponsored highway miles under Clean Colorado program.
February 14, 2020

Medical Marijuana Cards Show Big Rise In…

The number of Georgians with cards allowing possession of medical cannabis has soared more than 70% in one year.
February 14, 2020

Kansas City, MO mayor to pardon municipal…

Kansas City, Missouri, Mayor Quinton Lucas said he will begin pardoning those who have received municipal violations for marijuana possession…