Colorado was the first state in the US to legalize marijuana production and sales, aiming to raise tax revenues. It was closely watched by other states that have made pot sales legal and those considering legalizing it.
Other states where pot sales are legal, including Washington brought in $16.4 million in marijuana excise.
But Colorado isn’t satisfied with $44 million. The new taxes were estimated to bring in around $70 million.
“Everyone who thinks Colorado’s rollin’ in the dough because of marijuana? That’s not true,” said state Sen. Pat Steadman, a Denver Democrat and one of the Legislature’s main budget-writers.
With such large tax revenue, the state is required to return some of that money to residents.
Lawmakers however, are debating putting a ballot measure before Colorado voters asking them to exempt pot taxes from refund requirement.
