Denver Sales Tax On Medical Marijuana Raised Over $1 Million In Five Months

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Denver Sales Tax On Medical Marijuana Raised Over $1 Million In Five Months
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by Jon Bershad | 1:41 pm, June 22nd, 2010

Say what you will about medical marijuana but one question is not up for debate: whether or not it would make state’s money. In late 2009, the Colorado Attorney General gave cities permission to start taxing medical marijuana and the green (not that green) has been rolling in. How much money have they made? Well, according to NBC affiliate 9News, the city of Denver raised revenues of over $1 million in only five months. Whoa, dude.
From 9News:

“The numbers are from a period stretching from December to April. During those five months, the city collected $1,023,308.67 from the various medical marijuana businesses scattered around the city. In March, the city collected $226,492.56, the highest reported collection to date.”

While the article and report point out that this is still a small portion of the state’s revenue, it’s definitely a check that Colorado will be happy to deposit. And, in these cash-strapped times, don’t think that other states preparing to write medical marijuana legislation aren’t hungrily eyeing those figures. Whether or not this will lead to full on legalization in Colorado or any other state will remain to be seen but, it’s possible that those impassioned predictions your burnout college roommate made all those years ago might finally be coming true.

(via Reddit)

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