Wednesday, March 19, 2014

Pot not as lucrative as Governor Hickenlooper predicted

Last month Colorado officials were widely quoted in the national media bragging about how much money in new taxes the recreational marijuana business would bring in. Estimates ranged from $120 million to $190 million. Now the state's legislative council predicts it will be more like $60 million. The product and the taxes on recreational users is way more expensive than medical marijuana, so many people prefer to purchase it as medical marijuana.

Meanwhile, those who predict the future say that marijuana will become the state's third biggest crop, behind corn and hay, and ahead of wheat, barley, potatoes, and onions. We'll see.

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