Colorado is one of two states, Washington being the other, that recently legalized recreational marijuana. And in the first month, Colorado rrealized $2 million dollars in taxes http://www.washingtonpost.com/politics/colorado-marijuana-taxes-brought-in-2-million-in-january/2014/03/10/5411257e-a891-11e3-8599-ce7295b6851c_story.html.
According to one source http://medicalmarijuana.procon.org/view.resource.php?resourceID=000881 20 states and Washington DC have legalized medical marijuana. I am surprised by the number, but maybe I should not be.
I think, though, that the idea of acquiring a quick and high tax revenue source will cause many other states to look at legalizing recreational marijuana.
When Lubbock voted to allow packaged alcohol sales throughout the city, there were those who thought that would increase sales tax revenue for the city. But, that did not happen http://m.amarillo.com/news/latest-news/2012-12-07/expectations-lubbock-going-wet-not-coming-reality.
The point is, there is no real way to ultimately predict the tax impact of legalized alcohol sales or legalized marijuana sales until the situation occurs. And, if many states legalize recreational marijuana, will that cut into the sales in the few states that will have the early edge on sales?
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