3 Months Since Legalizing Marijuana, Here’s What Colorado Looks Like

Supporters said it would create value for the local economy and government, with detractors claiming it would increase violent crime and raise health costs. Who was right?

Back on January 1, when it became legal to sell recreational marijuana, it was estimated that, across the state, pot shop owners made more than $1 million in that one single historic day of business. The law allows for residents, over the age of 21, to purchase up to an ounce of marijuana at a single purchase if for recreational purposes, with non-residents able to purchase up to a quarter ounce.

Now, official figures released by the Department of Revenue (i) show that, in the first 3 months, sales of recreational marijuana alone have in fact raised in excess of $7.3 million in taxes. When income from medicinal sales tax and licences is included that figure rises further to $12.6 million. The fact is that in the new legalized recreational business in both January and February, more than $14 million was sold each month. March exceeded this by claiming almost $19 million in sales, and the trend is continuing to rise. From those sales figures, there has been a corresponding rise in sales taxes; January generated $1.4 million , February brought in $1.43 million and the most recent figures for March showed it to be $1.898 million. This destroys the initial argument by opponents who claimed that there would be an initial boost from ‘new toy’ syndrome but that interest would soon plummet.

Source : http://b4in.us/1u70n9Z

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