To avoid taxes black market pot still going strong in Colorado

[DigitalDrifter]

Rocky Mountain high.

Looks like these potheads are not too patriotic trying to avoid paying taxes. Come on you slackers, you don't have an excuse to buy the legal stuff.


$21.5 Million In Marijuana Taxes Just Went Up In Smoke

You have to hand it to Colorado for propelling legalized marijuana into the mainstream. In addition to medical marijuana, Colorado legalized recreational use, trumpeting the tax revenue itknew would be piling in. In Colorado, there’s a 2.9% sales tax and a 10% marijuana sales tax. Plus, there is a 15% excise tax on the average market rate of retail marijuana. If you add that up, it’s 27.9%.

Just think of all that tax revenue! Like a closer Amsterdam, Colorado would be on the New Pot Trail, getting marijuana tourists in addition to locals imbibing. Legalize and tax it, they said. But it turns out the $33.5 million Colorado projected to collect in the first six months of 2014 was a little too rosy. It’s now the next morning, so to speak, andColorado is missing $21.5M in pot taxes!

One explanation is that old habits die hard. With all those taxes, many smokers are still buying on the black market. Go figure. The state thought more people would migrate out of the black market.

In fact, only an estimated 60% of purchases in Colorado this year will be through legal channels, according to the Marijuana Policy Group. One big reason appears to be price. Legal marijuana is considerably more expensive than the black market variety.

more: 21.5 Million In Marijuana Taxes Just Went Up In Smoke - Forbes

 

[Circle_Breaker]

Yeah no shit.

Despite the loss of 21 million how much money did the state gain?

How much money did prisons and courts in Colorado save without the unnecessary arrest of weed related crimes?

 

[DigitalDrifter]

Yeah no shit.

Despite the loss of 21 million how much money did the state gain?

How much money did prisons and courts in Colorado save without the unnecessary arrest of weed related crimes?

I don't know, but how unpatriotic of these stoners to avoid paying taxes. They obviously hate America.

 

[Godboy]

I just bought some legal retail weed in Washington, and 2 grams cost me $60. For all of you non pot smokers, buying black market weed generally costs $40 for 3.5 grams. That means on the black market you pay 33% less for almost twice the product. My weed connection however gets me 28 grams for $200. If I was to buy 28 grams legally at the store in seattle, it would have cost me $960. Needless to say, the state needs to get their shit together and bring their prices down if they want people to buy it.

What is also very disappointing is the crazy restrictions on everything has slowed down production, which is partly to blame for such high prices, but due to that shortage, there aren't many places you can get it. I went to the one and only store in Seattle and waited for 15 minutes in line. When I got inside i found out that all you can buy is one type of weed, in 2 gram increments (to a maximum of 4 grams per day), or 1 gram joints. Washington needs to get on the ball. They are slacking.