Cannabis in Colorado Provides So Much Tax Money That Some of It May Be Shared Out among Residents

Everyone in Colorado is currently talking about the incredible amount of tax funds collected thanks to the legalization of recreational marijuana use, and particularly about the fact that a state law may return some of the money (a total of 44 million euros) to the taxpayers.

The fact of the matter is that the state constitution limits the amount of money that Colorado can earn via taxes. Specifically, this involves a constitutional amendment from 1992 that has demanded a tax rebate on six occasions, for a total of 2.9 million euros raised in a different number of ways.

Democrats and Republicans will be doing everything possible to prevent the taxes being refunded, as they believe that there is no reason to do so (given that the taxes were voted by the citizens). They even propose having a possible vote on the matter if necessary. Others put forward the idea of simply reducing the tax on marijuana. This has been done previously with the rates applied to motorized vehicles (for example, with taxes on the sale of trucks).

Legislators have a while to decide what measures to take in relation to the issue. Should they decide to refund some of the collected taxes, they will have to decide whether the money will be returned to all tax payers or only to those who have bought marijuana that is subject to the taxes.