Marijuana-related tax revenue in Colorado totaled $129 million over the 12-month period ending May 31, 2016 – well exceeding initial estimates of $70 million per year. In Washington, tax revenue totaled $220 million for the 12-montyh period ending June 30, 2016. Regulators had initially projected that retail sales would bring in $162 million in new annual tax revenue. In Oregon, marijuana-related tax revenues are yielding about $4 million per month – about twice what regulators initially predicted.
Millions of voters will decide on Election Day in favor of ballot measures to legalize and regulate the use of cannabis by adults. Voters in three states — Colorado, Oregon, and Washington — will decide on statewide ballot measures to legalize the possession and distribution of cannabis for those over 21 years of age. Voters in three additional states — Arkansas, Massachusetts, and Montana — will decide on measures to allow for the therapeutic use of cannabis by patients with qualifying ailments. In Michigan, voters in four cities – totaling […]