"The cruel irony behind this is that illegal drug dealers almost never even file income taxes," says Aaron Smith with the National Cannabis Industry Association. "So this provision really only affects the legitimate state-licensed marijuana providers."
Tax revenue from Colorado marijuana is already in the millions.
Credit Brett Levin / Flickr - Creative Commons
Colorado’s experiment with retail marijuana sales is less than three months old, but public opinion has swayed further in favor of legal pot since Amendment 64 passed. Those views are largely split along party lines.
Congress may not fully reinstate the half-million dollar expense provision that expired last year, says Roger McEowen, director of the Center for Agricultural Law and Taxation at Iowa State University.
Credit Gerry Slabaugh / Flickr
It could be yet another sign that the good times are over.
The contract for a 50 year U.S. 36 public-private partnership that has caused a public furor has been signed. Colorado Department of Transportation officials say the P3 is an effective way to fund transport projects. But with more managed toll lanes and possible P3’s in the works, are they best solution to a growing traffic problem?
The market for legal recreational marijuana in Colorado is booming, and the state is expecting millions of dollars more in tax revenues that initially projected. That has lawmakers grappling with the best way to spend all of that additional cash.