Historic: State Generates More Annual Tax Revenue From Marijuana Than From Alcohol
For the first time in history, a state has generated more annual tax revenue from cannabis than from alcohol.
Between the period of July 1st, 2014 to June 30th, 2015, Colorado collected nearly $70 million ($69,898,059) in taxes from cannabis, and just under $42 million ($41,837,647) in taxes from alcohol. This is according to data released by the state’s Department of Revenue.
“It’s crazy how much revenue our state used to flush down the drain by forcing marijuana sales into the underground market,” says Mason Tvert, who serves as Communications Director for the Marijuana Policy Project, the largest cannabis policy group in the world. “It’s even crazier that so many states are still doing it. Tax revenue is just one of many good reasons to replace marijuana prohibition with a system of regulation.”
So far in 2015, there has been over $500 million in legal cannabis sold in Colorado.
– TheJointBlog