Marijuana's Tax Potential Attracting New Allies - NBC Right Now/KNDO/KNDU Tri-Cities, Yakima, WA |

Marijuana's Tax Potential Attracting New Allies

Posted: Updated:

DENVER (AP) - Colorado's hearty embrace of a 25 percent marijuana tax this week could prove a turning point for legalization backers. They've long argued that weed should come out of the black market and contribute to state revenues instead of prison populations.
    
But it's too soon to say how much revenue the marijuana taxes in Colorado and Washington will produce when retail sales begin next year.
    
Colorado's vote Tuesday showed there's an appetite for the tax benefits, which the state estimates at nearly $70 million a year. Voters approved by a 2-to-1 margin an excise and sales tax that could add more than 25 percent to the sales price of weed.
    
Washington's tax rate is steeper. Many will be watching to see how much the states collect and whether smokers stay in the black market.

(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

HD DOPPLER 6i
/
  • Top Stories from KHQHomeMore>>

  • One person dead in house fire near Moses Lake Golf Course

    One person dead in house fire near Moses Lake Golf Course

    Thursday, June 22 2017 3:48 PM EDT2017-06-22 19:48:08 GMT

    MOSES LAKE, Wash. - One person is dead following an early morning house fire near Moses Lake. Grant County Fire District #5 was called to the home at around 7:30 a.m. on Fairway Drive Northeast near the Moses Lake Golf Course. 

    More >>

    MOSES LAKE, Wash. - One person is dead following an early morning house fire near Moses Lake. Grant County Fire District #5 was called to the home at around 7:30 a.m. on Fairway Drive Northeast near the Moses Lake Golf Course. The home was fully engulfed when firefighters arrived, and firefighters say while battling the blaze they found the body of a person inside the home. 

    More >>
  • German parliament backs annulment of gay men's convictions

    Thursday, June 22 2017 3:13 PM EDT2017-06-22 19:13:31 GMT

    BERLIN - German lawmakers have approved a plan to annul the convictions of thousands of gay men under a law criminalizing homosexuality that was enforced enthusiastically in post-World War II West Germany.  Parliament's lower house voted unanimously Thursday in favor of the bill. The legislation criminalizing homosexuality was introduced in the 19th century.

    More >>

    BERLIN - German lawmakers have approved a plan to annul the convictions of thousands of gay men under a law criminalizing homosexuality that was enforced enthusiastically in post-World War II West Germany.  Parliament's lower house voted unanimously Thursday in favor of the bill. The legislation criminalizing homosexuality was introduced in the 19th century.

    More >>
  • Taking the bargain route (sponsored)

    Taking the bargain route (sponsored)

    Thursday, June 22 2017 3:08 PM EDT2017-06-22 19:08:38 GMT

    It all started with a single, attainable goal: buying a snazzy new Yeti cooler, filled with craft beer from microbreweries between the Inland Northwest and Texas. To make it happen, 32-year-old Tyler McGuffin, of Spokane Valley, applied the skills he uses every day as an STCU accountant to plan an itinerary that would take him from Spokane to Waco.

    More >>

    It all started with a single, attainable goal: buying a snazzy new Yeti cooler, filled with craft beer from microbreweries between the Inland Northwest and Texas. To make it happen, 32-year-old Tyler McGuffin, of Spokane Valley, applied the skills he uses every day as an STCU accountant to plan an itinerary that would take him from Spokane to Waco.

    More >>