How has the legalization of marijuana turned out for Colorado?
The first year of legalization of recreational marijuana was sweeping success for Colorado. The first years returns are incredibly compelling and great victory for the people of Colorado.
Technology is also changing as fast as the law, changing the way people use the plant, in much the same way that vape pens have changed the way traditional smokers get their nicotine.
Taxes and Regulations
Colorado has collected about 76 million in marijuana revenue in 2014. The taxes on medical marijuana, which has been legal since 2000, were also tallied in the 76 million. Most of this money went to new school construction. The revenue started slow but picked up more and more throughout the year. Some think that this was a benefit from being the first to legalize and getting “marijuana tourism”.
Source: Christian Science Monitor, Rich Clabaugh
These tax revenue numbers (above) are very enticing for other state governments and governments around the world to adopt similar legislation themselves. 23 states now have some sort of legal medical marijuana. The Arizona law known as the Regulation and Taxation of Marijuana Act is ...