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Old 08-13-2014, 03:30 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, 04:16 PM   #31
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I don't know what this means.
That means no you have not.
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Old 08-13-2014, 04:17 PM   #32
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all the unemployable stoners drifting into Colorado and the taxpayers will pay for all those losers too. Illegals Obama is dropping off and now dopers too.
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Old 08-13-2014, 04:17 PM   #33
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Originally Posted by Fish View Post
That means no you have not.
Oh. I had to Google it. But, yes, that is correct. I have not procured any marijuana.
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Old 08-13-2014, 04:22 PM   #34
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Sounds like they need a government sponsored ad campaign to promote usage and increase tax revenues.
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Old 08-13-2014, 04:26 PM   #35
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Here in Washington State, the tax is so oppressive that the dealers are worried that their biggest competition is going to be the much cheaper black market. It's creating a bit of tension here because only "state sanctioned" marijuana is legal, and distributing marijuana (including passing a joint) that isn't state sanctioned is now considered a felony - one that the tax authorities would have great interest and incentive in pursuing.


On top of that, the tax itself is oppressive to the stores themselves. Apparently, the new stores tax software didn't take in account for an additional state-excise tax levied because the federal government doesn't recognize pot as a legal substance so all of the stores owe thousands of dollars more in tax than they had originally budgeted - so they've all had to raise prices by almost $10 on already inflated prices to try and raise the money. Apparently, virtually every store in the state is running in the red in its first month despite what have been described as wild sales. Here's a story about it from last week:
http://www.columbian.com/news/2014/a...pot-marijuana/
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Old 08-13-2014, 04:29 PM   #36
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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?
That's nonsense. At this point, this is a laffer curve problem, not a social problem.
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Old 08-13-2014, 04:34 PM   #37
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Some money is better than no money.

Plus, the money saved from not incarcerating people is also a positive.
So now you're backpedaling from my post reporting how inconsequential this revenue is, when you said that the "Jan 1 start date" was distorting the data.
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Old 08-13-2014, 04:49 PM   #38
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Originally Posted by HonestChieffan View Post
all the unemployable stoners drifting into Colorado and the taxpayers will pay for all those losers too. Illegals Obama is dropping off and now dopers too.
Yes, everybody that does pot is a loser and doesn't want to work. Makes perfect sense.
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Old 08-13-2014, 04:51 PM   #39
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Yes, everybody that does pot is a loser and doesn't want to work. Makes perfect sense.
Duh, anyone who enjoys alcohol is an alcoholic that beats their family, don't yea know.
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Old 08-13-2014, 04:51 PM   #40
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Quote:
Originally Posted by Taco John View Post
That's nonsense. At this point, this is a laffer curve problem, not a social problem.
You are suggesting that Colorado lower the pot tax rates?
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Old 08-13-2014, 05:10 PM   #41
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You are suggesting that Colorado lower the pot tax rates?
Yes. Why should pot have a 15% excise tax? In fact why should alcohol or cigarettes have extra taxes? They just drive the black market.

The state took it upon themselves to regulate it so heavily and tax it so heavily. They don't get to cry when the market stays in the shadows.
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Old 08-13-2014, 05:19 PM   #42
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Yes. Why should pot have a 15% excise tax? In fact why should alcohol or cigarettes have extra taxes? They just drive the black market.

The state took it upon themselves to regulate it so heavily and tax it so heavily. They don't get to cry when the market stays in the shadows.
Errr, because one of the primary arguments for legalizing pot in Colorado was "it will bring in so much new tax revenue!"
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Old 08-13-2014, 06:28 PM   #43
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Originally Posted by Donger View Post
You are suggesting that Colorado lower the pot tax rates?
I'd leave the question to the economists in the state as to whether it should be raised or lowered, but from my perspective in the cheap seats, it looks to me like if they want to substantially raise more revenue, they'll need to lower the tax rate.
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Old 08-13-2014, 06:33 PM   #44
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A guy I know who lives out there now says he still buys black market because he knows tons of people who grow and have a surplus after they sell all their wholesale. They sell their surplus at retail for the same price they sell to wholesalers. So if you buy black market, you're getting it way cheaper. I think the legal risk is pretty minimal for all parties, it's just a matter of having a connection.

This behavior would certainly lessen tax revenue.

Edit: I see this has already been covered in the thread and isn't any kind of new information. It does bring up the potential for "revenuers" to start targeting growers just like they targeted stills as the US moved out of alcohol prohibition.
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Old 08-13-2014, 08:26 PM   #45
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Errr, because one of the primary arguments for legalizing pot in Colorado was "it will bring in so much new tax revenue!"
I am sure it would if the government of Colorado would stop trying to intervene in the market.

They set the tax high to drive demand to stay in the shadow market and then complain about not getting the tax revenue. You can't have it both ways. Its sad that you don't understand this. It is basic economics.
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