Beyond 15 billion of dollars of cannabis sold in since 2014: the year in which the first legal dispensaries opened in Colorado. Exactly 15,028,995,376 dollars in August, of which over a billion from the beginning of 2023 alone.
Cannabis in Colorado: 2.5 billion in taxes generated
How reported by the Department of Revenue, in almost 10 years of authorized sales the Colorado has performed well 2.5 billion in taxes from cannabis, to be reinvested, as happens in countries that focus on legalization, in socially useful initiatives.
| For further information: "Why legalize cannabis, 7 valid reasons"
In particular, tax revenues arise from different sources such as: the 2.9% state sales tax on cannabis, a 15% tax on retail products sold in stores, and a 15% retail excise tax applied to wholesale sales and transfers. Finally, revenue from cannabis business licenses and application fees.
“Governor Polis is pleased to see Colorado's cannabis industry thriving, generating tax revenue for local governments and school construction, and hopes these sales will continue to grow to more than $15 billion,” the governor's spokesperson said. Jared Polis al Marijuana Moment - explaining that in - the governor's pro-freedom plans, we've seen Colorado's marijuana industry strengthen, create more jobs, and support our thriving statewide economy.”
Legalization of cannabis in Italy: 10 billion annual turnover
From what was estimated by a study by professors Ferdinando Ofria and Piero David of the University of Messina, the legalization of cannabis in Italy it could be worth more 10 billion euros of annual turnover.
"Through a legalization process this market can increase tax revenue, as for cigarettes there will be a high inflow of money through taxes. Our study highlights up to 6 billion of additional tax revenue for the State taken away from organized crime", concludes Professor Ofria.
A more precise estimate was obtained "taking the experience of Colorado as an example and projecting the data onto the Italian population (Colorado 5.6 million inhabitants/Italy, 60.4 million) with a total fiscal burden of 32% (excise duties, state and local taxes), the revenue for a population of 60.4 million inhabitants it would be 3.26 billion euros and a turnover exceeding 10 billion euros” finally concluded Professor David.
* Photo by CRYSTALWEED on Unsplash
