Colorado Record $100Million Marijuana sales in August

Discussion in 'The Howard Stern Show' started by Anyonenow, Oct 16, 2015.

  1. Anyonenow

    Anyonenow Well-Known Member

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    Colorado’s monthly marijuana sales top $100 million

    Monthly marijuana sales in Colorado have soared past the $100 million mark for the first time, according to the August recreational and medical marijuana sales data from the state Department of Revenue released Friday.

    Once again, marijuana sales surpassed the previous month's numbers with recreational marijuana coming in at $59.2 million and medical marijuana tallying $41.4 million.

    The combined $100.6 million in marijuana sales continues the month-to-month record-setting trend for 2015.

    Recreational cannabis sales began on Jan. 1, 2014 in Colorado, the first state to launch a retail marijuana program. In that first month, there were $46.9 million in total sales — $14.7 million was recreational, $32.2 million medical. August 2014 marked the first time that recreational sales exceeded medical sales.

    There are three types of state taxes on recreational marijuana: the standard 2.9 percent sales tax, a 10 percent special marijuana sales tax and a 15 percent excise tax on wholesale marijuana transfers. For August, Colorado collected $11.2 million in recreational taxes and fees and $2.0 million in medical taxes and fees, bringing the 2015 cumulative revenue total to nearly $86.7 million. In 2014, total marijuana revenue was $76.2 million.

    Perhaps the most-watched figure in the state's marijuana tax data is the 15 percent excise tax that is earmarked for school construction projects. In August, that tax brought in $3.3 million, up from $3.1 million in July.

    Another state recently joined Colorado and Washington in selling marijuana to adults 21 and older. During Oregon's first week of legal recreational marijuana sales, which started Oct. 1, retailers sold an estimated $11 million worth of pot.

    In contrast, Colorado's first week of legal sales reached $5 million.
     
    Last edited: Oct 16, 2015
  2. Anyonenow

    Anyonenow Well-Known Member

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    http://news.yahoo.com/marijuana-sales-colorado-cash-problem-143659821.html

    So where do they stash all that cash? For budding ganjapreneurs, cannabusiness owners and lawmakers from those states, that’s the billion-dollar question currently facing the marijuana industry.

    “I’ve gone through at least eight banks,” Shaun Gindi, owner of Colorado’s Compassionate Pain Management, told Bloomberg Business.

    “We’re on our 15th bank right now,” Andrew DeAngelo, director of operations at Harborside Health Center in Oakland, told CNBC in June.

    According to the U.S. Treasury Department, just 220 of the more than 7,600 banks and credit unions in the country accept so-called “cannabis cash” because marijuana still violates federal law.

    Legal marijuana sellers have been forced to spend hundreds of thousands of dollars on security, protecting their cash-heavy businesses with armed guards, armored vehicles and high-tech vaults — sometimes transporting their cash in duffel bags as if it were marijuana in states where it’s still illegal.

    “The federal government and these banking laws are making it so that people have to walk around with tens of thousands of dollars in their businesses, in their cars, in their homes,” Michael Julian, CEO of MPS International, a marijuana security company, told Bloomberg. “[It’s] putting these people in danger.”
     
  3. dawg

    dawg In The Dog House Staff Member

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    How long before the politicians throw out those false morals and opt for the cash? Not long i bet.
     
  4. Anyonenow

    Anyonenow Well-Known Member

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    The total tax amount seems very cheap.
    Should be significantly higher.

    Marijuana
    Colorado: a 10% special sales tax that will also help fund marijuana enforcement plus the 2.9% sales tax (the same tax added to retail sales). 15% excise tax on marijuana producers to raise revenue for school construction.

    Alcohol
    Colorado: Taxes on alcohol are by volume, not by price.
    The beer tax is 8 cents per gallon, the wine is 28 cents per gallon and the liquor tax is $2.28 per gallon.

    Tobacco
    Colorado: 84 cents state tax per pack of cigarettes.
    For other tobacco products, the tax is 40%.
    A pack of cigarettes costing $5 will actually cost $7.00, including 2.9% sales tax plus the state cigarette tax and a $1.01 per pack federal tax.

    Fuel
    Colorado:
    22.00cent/gallon Gasoline
    20.50cent/gallon Diesel
     
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  5. dawg

    dawg In The Dog House Staff Member

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    Of course the corrupt are making far more money off the illegal sale of weed, i guess it could go either way.
     
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  6. MyLazyHand

    MyLazyHand Russia and France Know What to Do

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    Yay, more drug addicts!!!!

    I'm sure having the entire population stoned and useless will help our fading nation.
     
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  7. dawg

    dawg In The Dog House Staff Member

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    Yeah because we all know being a slobbering obnoxious drunk is perfectly acceptable.
     
  8. MyLazyHand

    MyLazyHand Russia and France Know What to Do

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    you libs crack me up: you cheer for more people getting high, and claim it's OK because there will be higher taxes.

    Someday the whole lot of you will be on welfare, just like the Dems want.
     
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  9. Anyonenow

    Anyonenow Well-Known Member

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    Funny you should mention "libs"
    Many of the Pot Smokers on this site tend to vote republican.

    Disclaimer: I don't smoke Pot or Cigs. Had about 1/2 Joint in 1985 (and yes I did inhale)
     
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  10. MyLazyHand

    MyLazyHand Russia and France Know What to Do

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    Whatever. No one in the history of mankind became a better person by getting high and paying more taxes.
     
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  11. loogaroo

    loogaroo Well-Known Member

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  12. dawg

    dawg In The Dog House Staff Member

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    I was going to say @sstressed will be shocked to find out he is a liberal. I dont know how to break the news to him.
     
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  13. blckknight60

    blckknight60 Well-Known Member

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    i cant believe people like you still exist
     
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  14. Mojopin

    Mojopin Resplendent in his frock VIP

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    The entire population is drunk and useless....and that's legal.
     
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  15. No Head Games

    No Head Games Well-Known Member

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    Haha..whatever? You view everything through the prism of left vs right. When someone points out your team smokes pot your like "whatever".
     
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  16. sstressed

    sstressed enhancement toker VIP

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    young man i was a liberal long before your parents met and i can still out liberal some of you lefties on some issues! :)
     
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  17. dawg

    dawg In The Dog House Staff Member

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    You are a Liberal? Thats cool man i didnt know.

    But its still doesnt change the fact that people on both sides smoke pot.

    I'm like the OP, i dont touch it but i dont judge people that do.
     
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  18. sstressed

    sstressed enhancement toker VIP

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    i'm a conservative these days with dirty liberal leanings. mostly conservative though. oddly enough, many people go from lib to conservative or conservative to lib over the course of their lives.
     
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  19. dawg

    dawg In The Dog House Staff Member

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    You should come down to Texas where you will see guys in cowboy hats with guns racks and joints in the glove box. Its a myth that right wingers dont get high.
     
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  20. sstressed

    sstressed enhancement toker VIP

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    my new stash! :leaf:

    [​IMG]
     
    Last edited: Oct 16, 2015