‘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.
Cannabist staff

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.

Support Local Journalism

Support Local Journalism

As a Summit Daily News reader, you make our work possible.

Now more than ever, your financial support is critical to help us keep our communities informed about the evolving coronavirus pandemic and the impact it is having on our residents and businesses. Every contribution, no matter the size, will make a difference.

Your donation will be used exclusively to support quality, local journalism.


Start a dialogue, stay on topic and be civil.
If you don't follow the rules, your comment may be deleted.

User Legend: iconModerator iconTrusted User