‘Major milestone’: Colorado hits half a billion in weed tax revenue | SummitDaily.com

‘Major milestone’: Colorado hits half a billion in weed tax revenue

The taxes were collected from more than $3.6 billion of medical and recreational cannabis sales since 2014

By Alicia Wallace / The Cannabist Staff

VS Strategies hosted a news conference July 19, 2017, to discuss the “major milestone” of Colorado receiving $500 million in tax revenue from cannabis sales.

Marijuana advocates are trumpeting a Colorado milestone: More than $500 million in revenue for the state since recreational cannabis sales started in 2014.

The medical and recreational cannabis tax revenue benchmark — achieved in May 2017 — was hailed Wednesday in a report from VS Strategies, the new public affairs and lobbying firm affiliated with cannabis law firm Vicente Sederberg.

The report highlights publicly available marijuana tax data from the Colorado Department of Revenue. It also outlines how some of those funds have been spent or allocated on both the state and local levels.

"It's a meaningful milestone," said Brian Vicente, a Vicente Sederberg partner and co-author of Amendment 64, the 2012 ballot measure in Colorado to tax and regulate adult-use marijuana. "Colorado continues to be an example for the world."

Read the full story on The Denver Post website.

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