Colorado plans to spend tax revenue raised from marijuana sales on school construction and drug rehabilitation programmes following a vote in the state senate
Since the marijuana tax was first imposed in 2013, in the last year alone the state has raised $66.1m (£43m) from sales of the drug, outstripping original estimates of potential tax revenues. Marijuana was legalised in Colorado in 2012.
More than two thirds of state legislators voted to spend the money on local public sector projects including $40m for schools and a further $12m for drug rehab programmes.
The latest tax reports show that sales topped $870,000 in August 2015. Total marijuana tax revenue includes the 2.9% retail and medical marijuana sales tax, 10% retail marijuana special sales tax, 15% marijuana excise tax, and retail/medical marijuana application and license fees.
The State of Colorado department of revenue issues monthly marijuana tax reports based on actual revenue collected monthly as posted in the Colorado state accounting system. Taxes for the filing period are collected the month following the close of the reporting period. For example, taxes incurred in August are collected in September.
These reports include total marijuana tax revenue, marijuana tax collected by county and marijuana tax distribution by jurisdiction.
In order to release information publicly, some data are aggregated such that it prevents the identification of a specific taxpayer return. Some data are not releasable due to this confidentiality requirement.
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