Colorado Marijuana tax now totals more than $2,344,000,000. Is it helping or harming our state?

Marijuana earns tax revenue but is it worth it?Photo byBy S.Myshkovsky

Marijuana tax for the 2022 year is in. And the numbers aren't small!

Colorado tax revenue totaled $325,103,684 from marijuana last year according to the Department of Revenue.

A grand total

Tax revenue collection from marijuana sales started in Feb 2014.

"Colorado was one of the first two states to legalize marijuana with the passage of a 2012 citizen’s initiative. Although marijuana possession became legal the following year, the first marijuana stores didn’t begin opening until 2014." -Anthony Martinelli

Since then, $2,344,036,689 in total has been paid in tax revenue from marijuana.

The majority comes from Denver.

Tax revenue comes from the state sales tax (2.9%) on marijuana sold in stores, the state retail marijuana sales tax (15%) on retail marijuana sold in stores, and the state retail marijuana excise tax (15%) on wholesale sales/transfers of retail marijuana. Fee revenue comes from marijuana license and application fees.  --Colorado Department of Revenue

Tax collectors might be smiling, but are residents?

The views, as you would expect, are still mixed when it comes to marijuana.

Some Coloradans strongly for and others strongly against.

And as Dr. Taylor Marshall found out with a fierce debate on Twitter, people are not afraid to express their opinions about it.

Others point out how the tax revenue is used to help schools and other places that need it.

Your thoughts?

What side of the debate are you on?

Do you think it's worth having the extra tax revenue to benefit schools and other places that were running short?

Would you prefer the tax revenue or a marijuana free Colorado?

Let us know in the comments and share so others can join the conversation.