There Are Real Concerns Over The Intended Use For A Large Portion Of The Taxes That Are Included In The Bill.

Kristen Wyatt,Twitter,Marijuana,Colorado Senate,vote The little-noticed but significant shift in how Colorado spends marijuana tax dollars is tucked inside a far-reaching measure to eliminate budget cuts for hospitals and generate $1.8 billion for road construction with the sale of state buildings. The move is generating concern in the marijuana industry as it raises questions about increasing illegal sales and links core state expenses to a uniquely volatile industry. There colorado marijuana are real concerns over the intended use for a large portion of the taxes that are included in the bill. Although the rural school funding is staying with the public education funding that the tax revenues were intended to be used on, tax breaks for business owners was never supposed to be how marijuana taxes would be utilized. “Marijuana businesses are already generating hundreds of millions of dollars (in sales),” Mason Tvert of Marijuana Policy Project, and an original spokesperson for Amendment AA in 2012, told the Denver Post. “It seems unfair to increase taxes on marijuana consumers to cover a tax break for unrelated businesses.” Colorado raised over $129 million in tax revenue in 2015, according to www.colorado.gov . That was part of over 10 billion in total state tax revenues for the year. What is significant is that the wholesale marijuana tax revenue is entirely intended for schools. Of all the “sin taxes” imposed in Colorado, marijuana is by far number one in revenue generation, but the only taxes earmarked specifically for schools.

To read more visit http://www.occnewspaper.com/colorado-raises-taxes-on-marijuana-to-help-balance-budget/

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