Pubdate: Thu, 20 Feb 2014
Source: Delaware County Daily Times (PA)
Copyright: 2014 The Daily Times
Author: Kristen Wyatt, Associated Press


Colorado Guv Says Marijuana Tax Revenues Are Beyond Expected.

DENVER (AP) - Colorado's legal marijuana market is far exceeding tax
expectations, according to a budget proposal released Wednesday by
Gov. John Hickenlooper that gives the first official estimate of how
much the state expects to make from pot taxes.

The proposal outlines plans to spend some $99 million next fiscal year
on substance abuse prevention, youth marijuana use prevention and
other priorities. The money would come from a statewide 10 percent
sales tax on recreational pot, indicating Colorado's total sales next
fiscal year will be near $1 billion.

Retail sales began Jan. 1 in Colorado. Sales have been strong, though
exact figures for January sales won't be made public until early next

The governor predicted sales and excise taxes next fiscal year would
produce some $98 million, well above a $70 million annual estimate
given to voters when they approved the pot taxes last year. The
governor also includes taxes from medical pot, which are subject only
to the statewide 2.9 percent sales tax.

Washington state budget forecasters released a projection Wednesday
for that state, where retail sales don't begin for a few months. They
predicted that the state's legal recreational marijuana market will
bring nearly $190 million to state coffers over four years.

In Colorado, Hickenlooper's proposal listed six priorities for
spending the pot sales taxes. The spending plan included $45.5 million
for youth use prevention, $40.4 million for substance abuse treatment
and $12.4 million for public health.
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