“Colorado collected .3 million in excise taxes on the sale of recreational marijuana during the first month of 2015, 10 times the tax revenue generated in January last year.
The 15% retail marijuana excise tax, which goes toward public schools and construction fees, earned exactly ,332,843 in January 2015, according to a monthly report released by the state’s Department of Revenue. Last year, during the first month of sales, the school fund totaled 5,318.
Residents voted in November 2013 for an aggressive 10% sales tax and a 15% excise tax on recreational marijuana sales. Medical and recreational cannabis-related revenue also comes from a standard sales tax, as well as license fees.
Marijuana-related revenue not allocated to the school fund goes towards such things as substance abuse programs, medical research, and police training.”
Read more here: http://www.buzzfeed.com/mbvd/colorado-collects-23-million-marijuana-taxes-for-schools-in#.suJg8EXj83
Cenk Uygur (http://www.twitter.com/cenkuygur), Ana Kasparian (http://www.twitter.com/anakasparian), John Iadarola (http://www.twitter.com/jiadarola) and Jimmy Dore (http://www.twitter.com/jimmy_dore) of The Young Turks discuss.
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Legalized Marijuana = Millions For Public Schools In Colorado