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[colorado] Is Also Reaping The Invaluable Public Health And Safety Benefits Of Replacing An Underground Market With A Tightly Regulated System. Mason Tvert, The Marijuana Policy Project [colorados Tax Revenue] Is Just The Tip Of The Iceberg, Communications Director Mason Tvert Of The Denver-based Marijuana Policy Project Told The Huffington Post In An Emailed Statement.

According to data released Thursday by the Colorado Department of Revenue , dispensaries in the state sold $1.3 billion in medical and recreational marijuana last year, generating close to $200 million in tax revenue for the state. For perspective, thats slightly more than the entire 2015 GDP for the island nation of Antigua and Barbuda. Cities in Colorado also colorado marijuana collected millions of additional tax dollars, as each city typically tacks on extra duties in addition to state taxes. Colorado dispensaries sold slightly over $699 million in medical and recreational marijuana in 2014, the first year sales were legal in the state. That figure leaped to $996 million in 2015 . Impressive as Colorados $1.3 billion market might seem, its a pittance compared to the $53.3 billion that consumers in North America are believed to have spent on the drug in 2016, according to Arcview Market Research. Whats more, the company estimates 87 percent of those sales occurred in the illegal market. “[Colorado] is also reaping the invaluable public health and safety benefits of replacing an underground market with a tightly regulated system.” Mason Tvert, the Marijuana Policy Project [Colorados tax revenue] is just the tip of the iceberg, communications director Mason Tvert of the Denver-based Marijuana Policy Project told The Huffington Post in an emailed statement. The state is also reaping the invaluable public health and safety benefits of replacing an underground market with a tightly regulated system. Marijuana is now being sold in licensed businesses, rather than out on the street, Tvert continued. It is being properly tested, packaged, and labeled, and it is only being sold to adults who show proof of age. The system is working. The extra $200 million in tax revenue is nice.

To read more visit http://www.huffingtonpost.com/entry/colorado-marijuana-sales_us_589dff76e4b03df370d61164

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