Colorado Tax Revenues Set to Reach $125 Million in 2015

Colorado pot tax revenues may have fallen short of expectations in 2014, but things have certainly turned around this year.

The state is likely to double its tax revenues this year: after collecting just $44 million last year, the projected 2015 windfall is $125 million.

The state had hoped to make $70 million last year, but it looks as though this year will more than make up for the difference.

Financial data released last week also showed that Colorado made significantly more tax money from marijuana ($70 million) than from alcohol ($42 million) between July 2014 to June 2015.

The president of the Colorado Cannabis Chamber of Commerce, Tyler Henson, stated that the increase in marijuana sales this year is likely due to “more and more people [becoming] comfortable with the legalization of marijuana.”

Source:

http://www.huffingtonpost.com/entry/colorado-marijuana-tax-revenue-2015_560053c4e4b00310edf806d3

Photo Credit: ND Strupler

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