New source of tax revenue

[AtW]

"Bumper cannabis sales in Colorado form billion-dollar industry

In America’s first cannabis-legal state sales are surging far ahead of predictions, bringing huge additional tax revenue

Cannabis is likely to become an annual billion-dollar legal industry in the state of Colorado by next year after officials suggested greater volumes of the drug are being sold than anticipated.

Colorado was the first state in the US to licence and tax sales of the drug for recreational use, allowing dozens of shops to open for business on Jan 1, 2014.

In the lead up to legalisation it was estimated that sales would reach $395 million in the 2014/2015 financial year.

But in its first assessment since the New Year Governor John Hickenlooper’s budget office has dramatically increased that to $612 million.

When the $345 million in estimated sales of the drug to people with medical conditions is added that means a total of almost $1 billion.

The state is using the first $40 million it collects in taxes each year to build schools. "

Bumper cannabis sales in Colorado form billion-dollar industry - Telegraph

I hope they also deal with tax evaders who'd grow it at home!

[BrilloPad]

I was reading today that they cant find banks prepared to do business with them. As banks are covered by federal law.

[AtW]

I was reading today that they cant find banks prepared to do business with them. As banks are covered by federal law.

It's being changed...

[SpontaneousOrder]

I hope it spreads. Prohibition is responsible for so many deaths and so much organised crime.