Cannabis has been legal in Colorado for over a year, and all of the cannabis headlines seem to be dominated by the possibility of provisions to the legality of the laws set in place in November, 2013.
Some bills have bipartisan support, some are hotly debated even in the early committee stages of the life of a legislative bill.
One topic not up for debate: the overwhelming success the taxes on now-legal pot bring to the state, and more specifically to the state’s public, from elementary schools to retirement homes.
February 2015 marked the second straight month of record Colorado Cannabis Revenue in 2015, and third month in a row, overall. Two main benefactors already flourishing from this success.
Schools Seeing Green
It was only last month we were lauding the Colorado cannabis revenue stream for raising over $2.3M for Colorado Public Schools. As the reputation preceding them, this was not enough for gung-ho Coloradans. Rather than being content with one $2M month of cannabis revenue for public schools, Coloradans followed it up with another.
Yes, tourists help boost the recreational sales to record numbers again in February, 2015, but only accounted for using 7% of the state’s total pot demand. This is despite the fact that tourists make up 90% of Colorado cannabis revenue in the ‘high country’, aka mountain towns, according to The Denver Post.
And don’t be surprised if the local tokers set another sales record when the March, 2015 data is released in early May. Ever heard of public schools earning an extra $2M per month in revenue? In Colorado, it’s reality.
After the Huffington Post first reported in early February that due to the overwhelming Colorado cannabis revenue, Coloradans may be getting a refund check from the industry of indicas, the news spread like wildfire.
While the fact that a refund is possible is common knowledge, the exact appropriation of the extra Colorado cannabis revenue is still unknown, even by the lawmakers attempting to fix the disconnect.
The fact still remains, however, that the more record revenue Colorado generates, the more likely Coloradans see a refund in their pot-stained pockets. It also means that if and when the 2014 tax refund is appropriated, the 2015 refund will only be larger. More record revenue means more refund money, which means more money to contribute right back to the Colorado cannabis revenue stream.
That’s a win any way you slice it.