Colorado’s Marijuana Revenue & Oregon’s First Week Bonanza May Spark More States
Saturday, October 10, 2015
According to KGTV, the Beaver State far exceeded initial revenue expectations this past week -- and outpaced Colorado's debut.
One week in, Oregon is already far ahead of dollars spent on pot compared to Colorado’s first week of legal recreational sales, at $5 million. Washington took a month to sell its first $2 million, according to Marijuana Business Daily.
When Oregon voters approved recreational marijuana, the state set an estimate of $9 million in net tax revenue for the first full year of 2017. But the Oregon Retail Cannabis Association believes it’ll bring in three to four times that much.
Colorado Take, Next States?
On September 16, TIME Magazine wrote "pot is a boon for tax revenues in Colorado, outpacing revenue from alcohol taxes in the fiscal year ending on June 30."
Time's Tanya Basu broke down the numbers.
"Colorado collected almost $70 million in marijuana taxes during that time, nearly double the $42 million collected from alcohol taxes," wrote Busu.
In September, MarketWatch.com identified "the next eleven states" that will legalize marijuana.
{image_2}To identify the states most likely to legalize marijuana next, 24/7 Wall St. reviewed the 11 states where by law residents in possession of small amounts of the drug are not punishable by jail time, and medical marijuana use is permitted. Various moral and practical arguments have helped to catalyze the growing trend of legalization and decriminalization of marijuana. The potential tax revenue, job creation, and reduction of the burden of offenders on state prison systems, for example, have likely been a motivating factor behind the bills to regulate and legalize the drug in many of the states on this list.
To identify the next states to legalize marijuana, 24/7 Wall St. reviewed states where possession of small amounts of marijuana is not punishable by jail and where medical marijuana is currently legal based on data from The Marijuana Policy Project.
See the Next 11 States That Could Legalize HERE According to MarketWatch
Related Slideshow: Ten Things to Know About Marijuana Legalization in Oregon
Here are ten things you need to know now that pot is legal in Oregon.
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