Tag Archives: Sales tax

Colorado Cannabis Sales Hit $1 Billion in First Eight Months of 2017

Colorado Cannabis Sales Hit $1 Billion in First Eight Months of 2017

Colorado Cannabis Sales Hit $1 Billion in First Eight Months of 2017

Colorado cannabis sales are on track to reach an all-time high at record speed, with cannabis having already banked $1 billion in sales within the first eight months of 2017.

Gov. Hickenlooper Submits Budget Amendments to Legislature, Calls for Reductions in Senior Homestead Exemption & Higher Retail Marijuana Sales Taxes to Backfill School Funding Reductions

DENVER, Jan. 17, 2017 /Weed Wire/ — The Office of State Planning and Budgeting (OSPB) today submitted budget amendments to the Joint Budget Committee that apply to the FY 2017-18 budget request.

Maine Governor Certifies Pot Vote But Urges Moratorium on Sales

Maine Governor Certifies Pot Vote But Urges Moratorium on Sales

Maine Gov. Paul LaPage on Dec. 31, 2016, signed a proclamation certifying the state’s narrow vote to approve adult-use of marijuana, according to a Jan. 3, 2017, article in the Portland Press Herald. LaPage confirmed the signature during a Jan. 3, 2017, radio show program during which he also urged Maine legislators to set a moratorium on marijuana sales.

In California, Proposition 64 Could Bring Less Tax Revenue Than Once Expected

In California, Proposition 64 Could Bring Less Tax Revenue Than Once Expected

Medical marijuana patients in California are getting a tax break, and that could mean less money for the state’s coffers. The Board of Equalization recently notified users they do not have to pay sales tax on medical pot if they have both a recommendation from a doctor and the appropriate identification card.

tax

Oregon Legislature Considers Retail Marijuana Tax

As Oregon prepares for the legalization of recreational marijuana on July 1, 2015, state legislators are considering making changes to how recreational marijuana is taxed. Those in support of the changes see it as a more workable solution than a harvest tax, but those in opposition see it as just another cash grab by politicians.

Revenue

Washington’s Pot Tax Revenue Falls Short

Washington state’s marijuana market looks like it is off to a slow start, or at least that is according to a new report released by Moody’s, a credit rating agency. It appears that high taxes, low supply and easy access to medical marijuana have led to a lackluster performance thus far; and analysts project that sales taxes collected from the sale of recreational cannabis will fall short of the projected $51.2 million.

Taxes

Are Marijuana Taxes Too High?

If there are still any cannabis naysayers left in the state of Colorado, then no one can hear them over the ridiculous amount of money being made there. According to the Denver Post, Colorado made $22 million in recreational sales in April 2014, netting the state $3.5 million in tax revenue. Sales were likely boosted by the cannabis holiday 4/20, which attracted thousands of out-of-state visitors this year.


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