Marijuana Taxes

Recreational marijuana has been legal in Colorado for three and a half years now, and the state recently reached a milestone in regard to the taxes that are assessed on the sales of pot. In May, tax revenue from pot sales officially reached $500 million dollars.

A new report released this week detailed the major beneficiaries of tax dollars brought in by marijuana sales. Colorado schools received the lion’s share of the money with $160 million being allocated for school construction projects, dropout prevention programs, bullying prevention and education, the Public School Fund, and grants to bring health professionals into state schools.

The next largest recipient of pot tax revenue was the Department of Public Health and Environment and other health agencies. Collectively the agencies received over 22 percent of the money, which was earmarked for facilities that treat and prevent substance abuse.

The rest of the state’s pot income is divided between criminal justice and public safety, research and regulation, and youth services programs.