Colorado allows sales tax on both medical and recreational products. The current tax is 12.9% tax on recreational and 2.9% on medical cannabis. This has already begun to boost Colorado’s economic status. Sales alone are expected to generate approximately $610 million by current sales projections and the taxes generated from those sales will exceed $90 million. In such desperate economic times, this may be all that is needed to sway those in power as to the many benefits legal marijuana can offer to residents as well as the public as a whole. As states begin to allow legalization, the supply and demand channels will increase.
With the recent House push for the fed to stop raiding legal dispensaries and medical patients establishments, we should be able to see even more helpful information and statistics as farmers and dispensaries lose their fear of declaring their income and expenses.
Watch how recreational marijuana is already revitalizing a Colorado town.