Pot tax trouble: What legalized states need to know about sketchy predictions
Colorado’s cannabis industry is on pace to generate north of $213 million in state tax revenue by 2019, according to the Colorado Legislative Council’s latest economic and revenue forecast released this week.
By The Cannabist’s calculations, that amounts to nearly $1.7 billion in sales of flower, concentrates, edibles and other infused products in the recreational and medical marijuana markets.
But what’s in a number?
This fledgling industry is laden with projections, estimates and forecasts. Multibillion-dollar figures have been ascribed to locales where a single legal adult-use sale has yet to even take place.
In Colorado, pot shop cash registers have been ringing up recreational transactions for nearly three years. As such, the state has accumulated valuable—data.
We know that Colorado’s marijuana industry has topped $1 billion in sales—through the first 10 months of 2016.
Read the rest of this story at The Cannabist.
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