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

by Jon Bershad | 1:41 pm, June 22nd, 2010

» 8 comments

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)

Colorado, Denver, marijuana legalization, Medical Marijuana

http://www.facebook.com/people/Christian-Conser-Vative/1360623738 Christian Conser Vative

Does anybody have the revenue figures for Oakland CA, the rest of CA, other parts of Colorado… How much of this data can be pulled together? This seems like a real selling point for this process!

And put the word out: Watch out for the prohibitionists’ October Surprise!
felixw

Just imagine how much Denver could make if it also sold cocaine and heroin. Of course, the Left would raise a stink if someone opened a refinery or power plant anywhere in the state of Colorado, no matter how much tax revenue it brought in.
http://www.facebook.com/people/Stephen-Hogan/179500970 Stephen Hogan

Felix, comparing marijuana to cocaine and heroin is a false equivalence. Marijuana is a relatively benign substance that has been shown to have some beneficial properties. You cannot overdose and it is not very addictive. In fact, the only thing really unhealthy about it is that most people smoke it.

Heroin and cocaine, on the other hand, are highly addictive, subject to overdose, and, over prolonged use, lead to heart disease. Never mind the issues that arise with what they cut the drug with (see levamisole in cocaine) and self-injection.
felixw

Hogan, you make me laugh. The Left has demonized tobacco for the last thirty years, but they always have excuses for pot, the smell of which must bring back nostalgic memories their days of youthful protests and getting stoned.
http://www.facebook.com/people/Stephen-Hogan/179500970 Stephen Hogan

The left hasn’t demonized tobacco. It’s carcinogenic, pure and simple. It does kill and maim. The product does a pretty good job giving itself a bad name. This is coming from a smoker.

I would say that I miss smoking in bars and restaurants, but I do enjoy being able to go out and not come back smelling like an ash tray.

Just to let you know, though, it was the progressive movement that pushed to prohibit pot. Permitted drug use is beyond the left-right paradigm. It falls more into the libertarian-authoritarian spectrum.
notsofast

How much did they make off alcohol and tobacco?
notsofast

While the article and report point out that this is still a small portion of the state’s revenue”

Small? Try minuscule.

“The city is quick to point out that the figures still represent less than 1 percent of the total sales tax collected. “
http://www.facebook.com/people/Stephen-Hogan/179500970 Stephen Hogan

True, but it was money they otherwise wouldn’t have.

They make a lot of money off of alcohol and tobacco. Why, just today, New York increased the tax on a pack of cigs by over a dollar. A pack in NYC now carries $5 in taxes.