Tag: tax revenue

Colorado Makes $3.2 Million in Tax Revenue on Legal Cannabis in February

Legal cannabis sales has earned the State of Colorado over $3 million in tax revenue for the month of February alone. This number represents an increase of roughly $300,000 from the tax revenue earned by the state in January. Of the $3.2 million collected, $1.43 million came from a special 10% sales tax on recreational …

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Colorado Expects Tax Surplus From Legal Cannabis, Considers Refund To Taxpayers

Tens of millions of dollars could be refunded to Colorado taxpayers due to taxes made from legal cannabis sales far exceeded initial estimations. The state’s Office of Legal Services to the Joint Budget Committee released a memo this week stating that if Colorado collects more than $67 million in revenue from pot sales, the overage …

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Colorado Earned $3.5 Million from Recreational Cannabis Taxes and Fees in January

New data released by the State of Colorado shows that over $3.5 million in tax revenue and licensing fees were garnered from recreational cannabis sales in January alone, the first month such sales were legal. This is the first official data released regarding legal cannabis sales in Colorado. “The first month of sales for recreational …

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Study: Legalizing Cannabis in Israel Would Result in Nearly Half a Billion Dollars Annually

According to a new report by the┬áJerusalem Institute for Market Studies, the illegal cannabis market in in Israel is worth nearly a billion dollars, and bringing it above ground into a legal market would net the nation over $450 million in both reduced enforcement costs, as well as increased tax revenue. Over 275,000 people consume …

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New York City Mayoral Candidate Announces Plan to Legalize Cannabis

New York City’s Comptroller John Liu, who’s currently running for mayor, has proposed a drastic overhaul of the city’s cannabis policies, calling for both the legalization of medical cannabis, as well as the legalization of cannabis for recreational purposes. According to John Liu, who recently commissioned a report on the issue, the city would raise …

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