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Colorado: State NORML Affiliate Urges ‘No’ Vote on Ballot Proposal to Increase Retail Taxes on Adult-Use Marijuana Sales

Colorado NORML is urging voters to decide against Initiative #25, opining that excessive taxation on regulated marijuana products will drive consumers back to the illicit market. “This Ballot Initiative is an unnecessary tax burden,” Colorado NORML states in an action alert.

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Study: Legal Marijuana Market Would Yield Over $3 Billion In Tax Revenue

Legalizing the retail production and sale of cannabis in the United States would yield over $3 billion in annual tax revenue, according to an analysis published this week by the personal finance website, NerdWallet.com. Based on existing market projections, California would gain the largest amount of annual tax revenue ($519,287,052) were commercial cannabis production and sales to be legalized for adults. Other top tax revenue generating states include: New York ($248,103,676), Florida ($183,408,640), Texas ($166,303,963), and Illinois ($126,107,360).