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Started By
Message
Colorado already cleaning up on pot taxes
Posted on 2/20/14 at 3:30 pm
Posted on 2/20/14 at 3:30 pm
quote:
The proposal outlines plans to spend some $99 million next fiscal year on substance abuse prevention, youth marijuana use prevention and other priorities. The money would come from a statewide 12.9 percent sales tax on recreational pot. Colorado's total pot sales next fiscal year were estimated to be about $610 million. Retail sales began Jan. 1 in Colorado. Sales have been strong, though exact figures for January sales won't be made public until early next month. The governor predicted sales and excise taxes next fiscal year would produce some $98 million, well above a $70 million annual estimate given to voters when they approved the pot taxes last year. The governor also includes taxes from medical pot, which are subject only to the statewide 2.9 percent sales tax.
LINK
$100 million in annual tax revenue huh? $30 million more than expected for year 1. This data will be pretty interesting to other states (like California and Oregon) I'd think.
This post was edited on 2/20/14 at 3:33 pm
9
Posted on 2/20/14 at 3:34 pm to ULSU
So, they plan to spend $99M on mitigation efforts for abuse, and they estimate to rake in $98M in tax revenue from the sale of recreational pot.
It's a wash? Or am I being obtuse?
It's a wash? Or am I being obtuse?
Posted on 2/20/14 at 3:35 pm to ULSU
As an employer I am curious to see how HR policies have or will change.
Posted on 2/20/14 at 3:39 pm to The Sad Banana
quote:
So, they plan to spend $99M on mitigation efforts for abuse, and they estimate to rake in $98M in tax revenue from the sale of recreational pot.
Yea I don't get this either.
Posted on 2/20/14 at 3:39 pm to Purple Spoon
quote:
As an employer I am curious to see how HR policies have or will change.
They won't. It opens yourself up to too many unnecessary lawsuits if a high employee runs over someone with a forklift or with their car in the company parking lot.
Posted on 2/20/14 at 3:41 pm to Purple Spoon
quote:
As an employer I am curious to see how HR policies have or will change.
do you let your people drink on the job?
Posted on 2/20/14 at 3:42 pm to AngryBeavers
quote:
They won't. It opens yourself up to too many unnecessary lawsuits if a high employee runs over someone with a forklift or with their car in the company parking lot.
these possibilities don't exist for a drunk employee?
Posted on 2/20/14 at 3:42 pm to ULSU
I don't like looking at the tax revenues in a vacuum. I'd like to see what the alcohol tax revenues did over the same time span to see if they went up, down, or stayed flat.
Posted on 2/20/14 at 3:43 pm to TH03
quote:
these possibilities don't exist for a drunk employee?
Do companies allow you to drink on the job?
Posted on 2/20/14 at 3:43 pm to Purple Spoon
Whoever comes up with a way to test for marijuana use to be able to tell if you're currently high will make bank.
Posted on 2/20/14 at 3:44 pm to Aubie Spr96
I believe some studies have shown weed substituting for alcohol so I'd imagine they might go down.
Posted on 2/20/14 at 3:44 pm to TypoKnig
quote:I don't have a dog in the fight. I just see it as a wash and now Colorado lets people smoke pot without any real motivation from a revenue standpoint. But maybe the figures will grow and the mitigation will wane over time.
Yea I don't get this either.
Posted on 2/20/14 at 3:45 pm to AngryBeavers
quote:
Do companies allow you to drink on the job?
no.
do companies allow you to get high on the job?
no.
Posted on 2/20/14 at 3:46 pm to Purple Spoon
quote:
As an employer I am curious to see how HR policies have or will change.
No offense but holy shite..
Posted on 2/20/14 at 3:46 pm to The Sad Banana
(no message)
This post was edited on 2/20/14 at 3:48 pm
Posted on 2/20/14 at 3:46 pm to The Sad Banana
quote:
So, they plan to spend $99M on mitigation efforts for abuse, and they estimate to rake in $98M in tax revenue from the sale of recreational pot.
Sounds like the initial spend is $99 million for programs, but they won't need to re-spend that every year. Make sense? Year 1 is probably a wash, which is how the law was written, to expand those programs immediately with the tax money.
Posted on 2/20/14 at 3:46 pm to ULSU
I'm willing to bet tax revenues are down in some other areas.
Posted on 2/20/14 at 3:48 pm to Tayday
quote:
Whoever comes up with a way to test for marijuana use to be able to tell if you're currently high will make bank.
They are narrowing down saliva tests that can tell if you've smoked in the last 8 hours. Once they can nail that down to a 3-4 hour window, boom. Also, from the article:
quote:
The state Department of Transportation would get $1.9 million for a new "Drive High, Get a DUI" campaign to tout the state's new marijuana blood-limit standard for drivers.
Posted on 2/20/14 at 3:49 pm to ULSU
quote:Yeah, I'm realizing that now...so if it's a wash, in reality that's a pretty good win for Colorado in year 1.
Sounds like the initial spend is $99 million for programs, but they won't need to re-spend that every year. Make sense? Year 1 is probably a wash, which is how the law was written, to expand those programs immediately with the tax money.
Posted on 2/20/14 at 3:54 pm to TH03
quote:
I believe some studies have shown weed substituting for alcohol so I'd imagine they might go down.
I think he's painting this as a bad thing
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