Colorado Weed Brings in Nearly $25M in June
Legal marijuana continues to bring home the bacon in Colorado. In June the weed industry sold $24.7 million worth of marijuana, a new record and a 19 percent increase from the month before. This will add even more money to state tax coffers. Since the start of the year, when the first pot shops opened […]
Colorado MJ Tax Haul Smaller than Expected
Marijuana tax revenue in Colorado has fallen behind early projections, though demand is high and the industry itself continues to thrive. The Colorado Department of Revenue reported just $12 million in tax payments between January and July, the end of the fiscal year. Early on, officials estimated the state would pull in at least $33.5 […]
Tax Experts Disagree on Tax Haul from Legal Weed in Oregon
Tax experts hired by the Oregon Legislature predict legal marijuana would generate a relatively small amount of money for the state. The tax analysts, who worked with the Legislative Revenue Office, said in late July that legal weed would generate $16 million in tax revenue during the first year it’s available. That result is much […]
Christie Continues Crusade Against Weed
New Jersey Gov. Chris Christie has taken a position on marijuana, and it’s clear he will never abandon it – no matter how repetitive the refrain becomes. Visiting Colorado in late July, Christie again lashed out at the state’s legalization of weed. He is clearly staking out territory for the 2016 presidential race, in which […]
Vermont Will Study Legal Weed
Vermont is taking a closer look at a policy that would suit the liberal Green Mountain State just right: legal marijuana. The state has hired the Rand Corporation, a leading think tank, to determine what effects legalization would have on the economy, public health, and public safety. The results could inform decision making for years […]
Tax Estimates Drop for Legal Weed in Washington
Washington State will likely fall short of predictions for tax revenue from the legal marijuana industry, according to the Moody’s credit rating agency. With the first shops opening months behind schedule, the state levying a steep tax on weed purchases, and the medical and black markets offering a cheaper alternative, Washington’s tax take will probably […]
Opening Day in Washington Brings Big Money, Weed Shortages
The first days of legal marijuana in Washington State were a surprising success, with long lines and a tax windfall for the state. But trouble hit when stores began running out of pot. Cannabis City, Seattle’s only legal pot shop, sold its last bag of weed at 5 p.m. July 10, just two days after […]
Legalization Group Turns in 58,000 Signatures in D.C.
A campaign to legalize recreational weed in the District of Columbia moved a step forward in early July, as organizers turned in tens of thousands of voter signatures, which are needed to put the question on the ballot in November. The D.C. Cannabis Campaign, the marijuana advocacy group behind the initiative, turned in 58,000 signatures […]
Colorado Marijuana Group Sues over Tax
A group of marijuana proponents in Colorado have filed a lawsuit seeking to block the state from collecting certain taxes on weed sales. Attorney Rob Corry filed the suit in Denver District Court. In it, he claims pot providers in Colorado could incriminate themselves under federal law by paying taxes. Colorado has had medical marijuana […]
Join our email list!