The takings from toking are treating Colorado’s budget well.

As of Wednesday, the state has collected $1.02 billion in revenue from since recreational sales began in 2014, thanks to taxes, licenses and fees levied on $6.56 billion in marijuana sales in that time.

The tax figure is substantially more than some experts predicted in 2012 when Colorado voters approved Amendment 64, which legalized recreational marijuana. At that time, would net between $5 and $22 million a year in taxes.

Amendment 64 requires at least the first $40 million in tax revenue be allotted for school construction, with spillover put toward a broader public school fund. (Even with that contribution, however, most of the rest of the country.)

<div data-rapid-cpos="7" data-rapid-subsec="paragraph"

Read More At Article Source | Article Attribution