Supporters argue that legalizing and taxing the sales of marijuana would be a boon for states that adopt the progressive policy. Colorado however is finding a massive shortfall of the estimated $33.5 million that the state was expected to collect in taxing recreational drug use.
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Six months after legalizing marijuana, Colorado is missed the initial revenue estimate by $21.5 million. Voters were told the state would collect $33.5 million in the new policy’s first six months.
The cause, officials said, is that marijuana smokers still prefer to buy on the Black Market.
The Marijuana Policy Project estimates only 60 percent of people who want to purchase pot in Colorado this year will buy it legally.
Legal, retail marijuana is taxed at a rate of more than 27 percent in Colorado. In other words, it’s cheaper to buy marijuana illegally.
Right now in Maryland possessing small amounts of weed is not a criminal offense.
Marijuana advocates will be back in the State House during next year's legislative session pushing for something more like Colorado’s full legalization.
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I have read other reports that the Colorado tax on medicinal pot is much lower than rec pot. Many residents have been getting the medical card to purchase medicinal pot as it is much cheaper.
