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Old 08-13-2014, 04:30 PM  
Donger Donger is offline
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(Colorado) Taxes for recreational pot fall short of estimates

http://www.thedenverchannel.com/news...t-of-estimates



DENVER - Taxes on recreational pot sales in Colorado are falling short of estimates.

Original predictions were that taxes would generate $33.5 to $100 million for the fiscal year that just ended.

However, the Denver Post reports that the actual amount in retail sales and excise tax came in at just over $12 million, according to Colorado Department of Revenue.

State Rep. Dan Pabon said it might be time to look at medical marijuana. Pabon chairs a special legislative committee on marijuana revenue that met for the first time Tuesday.

A market study for the state found that the lower-taxed medical-marijuana market continues to outpace the recreational market in sales. Recreational sales are expected to grow.

State economists are coming out with new forecast next month using the data from the first six months of sales.
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Old 08-13-2014, 04:36 PM   #16
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I just think that it's pretty funny. All the stoners were talking about before this was going up for vote was how many millions it was going to bring in.

Missed it *this* much...
Well, it did bring in millions. And to be fair, recreational sales have only be live since January.
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Old 08-13-2014, 04:37 PM   #17
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"The stoners" also were up in arms about the taxes being so high that people would stick to the black market. It's basically become a tax on tourists.

(Which is just fine, when it really comes down to it.)
Yes, the 15% excise tax is more than likely suppressing in-state recreational users.
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Old 08-13-2014, 04:38 PM   #18
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Anyone have a good pot brownie recipe?
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Old 08-13-2014, 04:40 PM   #19
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Originally Posted by KC native View Post
Well, it did bring in millions. And to be fair, recreational sales have only be live since January.
No, they were talking about $100 million +

I'd be surprised if this actually breaks even.
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Old 08-13-2014, 04:42 PM   #20
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Here in Washington, they are having trouble with the supply chain, since it takes a while to legally grow and produce it. It could just be that the legal sales aren't there yet because of supply.
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Old 08-13-2014, 04:43 PM   #21
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Donger have you ever procured a sack of bud?
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Old 08-13-2014, 04:45 PM   #22
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Well, crap. The thread moved while I was typing and now I've accidentally posted in DC.

I feel dirty.
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Old 08-13-2014, 04:49 PM   #23
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Originally Posted by Donger View Post
No, they were talking about $100 million +

I'd be surprised if this actually breaks even.
I knew that they would never hit their high estimates. It's too easy to procure through illicit channels to get those numbers.
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Old 08-13-2014, 04:55 PM   #24
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Donger have you ever procured a sack of bud?
I don't know what this means.
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Old 08-13-2014, 04:57 PM   #25
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The Colorado Futures Center concludes in its report that the costs of regulating recreational marijuana — plus possible extra costs for law enforcement, public health and human services — may exceed the tax revenue from the recreational marijuana industry. The center also estimates that tax revenue from the industry will level off or fall, "as the 'wow' factor erodes over time and any marijuana tourism begins to decline, particularly if other states follow Colorado and Washington and legalize marijuana."

Smart Colorado, a group opposed to all but the most limited implementation of legal marijuana, jumped on the analysis as proof that Amendment 64 was a bad deal.

"The latest research just confirms that marijuana proponents' promises to Colorado voters that Amendment 64 would be a financial gain to the state were empty," Diane Carlson, one of the group's leaders, said in a statement. "Even if voters approve the recreational-marijuana tax, the new pot market could be a net drain on the state's budget, the study indicates. That means funds for education, roads and other top priorities could be diverted to marijuana regulation."
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Old 08-13-2014, 05:04 PM   #26
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Quote:
Originally Posted by Donger View Post
http://www.thedenverchannel.com/news...t-of-estimates



DENVER - Taxes on recreational pot sales in Colorado are falling short of estimates.

Original predictions were that taxes would generate $33.5 to $100 million for the fiscal year that just ended.

However, the Denver Post reports that the actual amount in retail sales and excise tax came in at just over $12 million, according to Colorado Department of Revenue.

State Rep. Dan Pabon said it might be time to look at medical marijuana. Pabon chairs a special legislative committee on marijuana revenue that met for the first time Tuesday.

A market study for the state found that the lower-taxed medical-marijuana market continues to outpace the recreational market in sales. Recreational sales are expected to grow.

State economists are coming out with new forecast next month using the data from the first six months of sales.
We better make it illegal again. Always better to have it illegal and make a violet black market where people lose their lives and get thrown in jail all the time, using our tax dollars even more.
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Old 08-13-2014, 05:08 PM   #27
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We better make it illegal again. Always better to have it illegal and make a violet black market where people lose their lives and get thrown in jail all the time, using our tax dollars even more.
This is why it should just be legal to use and not considered another revenue source for the state.
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Old 08-13-2014, 05:10 PM   #28
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Except for the $20 million in new salaries to track and govern the sales.
And the legal bills over driving accidents and these potheads getting fired and wanting the job back.
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Old 08-13-2014, 05:13 PM   #29
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We better make it illegal again. Always better to have it illegal and make a violet black market where people lose their lives and get thrown in jail all the time, using our tax dollars even more.
If it isn't a net positive from a fiscal perspective and it's just a "tourist tax" as someone suggested, meaning that the other users are still buying on the black market to avoid taxes, sure, why not make it illegal again?
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Old 08-13-2014, 05:15 PM   #30
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I don't know what this means.


I'm sure.
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