Marijuana Business
Facts: Colorado legalizing the Use of Recreational Marijuana.
- The state of Colorado is collecting revenue from legal pot sales.
The tax rate in Colorado for recreational is 28%, for medicinal marijuana is 3%.
- Colorado’s tax revenue from bud sales were a whopping$200 Million in 2016. (You can only think of what California can generate.)
- There are approximately 103,000 residents in Colorado who legally use medical Marijuana. That is about 1.9% of Colorado’s population. Now that 9 states are legalized for recreational use the demand is only going to grow.
- Decriminalization In 2015, 1.5 Million Drug arrests were made in the U.S. Proportion of arrests by substance category: 43% Marijuana , 25% Heroin or Cocaine, 24% Other Non- Narcotic Drugs.
- Charges have dropped dramatically , at about 80% between 2010 and 2014 , when legalization took effect.
Big changes are happening in the Cannabis business and the way the laws are shifting.
For a the full article in Times Magazine.