Colorado Raked In $2.3 Million In Marijuana Taxes For Schools

Colorado has a different type of weed man, and his name is Excise Taxing.

Fortunately for residents, the green (pun intended) is going right back into the community. According to a monthly report from Colorado’s Department of Revenue, the state collected $2.3 million dollars for public schools.

In November 2013, residents voted for a 10% sales tax and a 15% excise tax on recreational marijuana sales, which led to a striking increase in sales for more than 300 dispensaries.

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Not only are Colorado public schools prospering, but programs for abuse, medical research, and police training are also benefitting from the excise taxing. Last year’s funds totaled $195,318. Imagine how many pre-rolled joints that is.