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 This material may not be published, broadcast, rewritten or redistributed.)

  • Top Stories from KHQTop StoriesMore>>

  • Thank you to all who gave to victims of Carlton Complex Fire!

    Thank you to all who gave to victims of Carlton Complex Fire!

    Tuesday, July 22 2014 5:26 PM EDT2014-07-22 21:26:11 GMT
    KHQ.COM - We were completely overwhelmed at how this community came together yesterday for the Q6 Cares, Inland NW Shares drive yesterday to support the victims of the Carlton Complex Fire who lost their homes. All day Monday from 5am - 6:30pm we were inundated by a constant flow of people wanting to make a difference.More >>
    KHQ.COM - We were completely overwhelmed at how this community came together yesterday for the Q6 Cares, Inland NW Shares drive yesterday to support the victims of the Carlton Complex Fire who lost their homes. All day Monday from 5am - 6:30pm we were inundated by a constant flow of people wanting to make a difference.
    More >>
  • Prevent house fires with defensible space!

    Prevent house fires with defensible space!

    Tuesday, July 22 2014 5:14 PM EDT2014-07-22 21:14:44 GMT
    KHQ.COM - In these extremely challenging weather conditions, State Fire Marshal Chuck Duffy is urging residents to inspect and maintain the defensible space around their homes. Defensible space can dramatically increase your home’s chances of surviving a disastrous wildfire, and can be accomplished through careful planning and vegetation management.More >>
    KHQ.COM - In these extremely challenging weather conditions, State Fire Marshal Chuck Duffy is urging residents to inspect and maintain the defensible space around their homes. Defensible space can dramatically increase your home’s chances of surviving a disastrous wildfire, and can be accomplished through careful planning and vegetation management.More >>
  • Air France, Lufthansa suspend flights to Tel Aviv

    Air France, Lufthansa suspend flights to Tel Aviv

    Tuesday, July 22 2014 3:08 PM EDT2014-07-22 19:08:20 GMT
    BERLIN (AP) - Germany and France's largest airlines Lufthansa and Air France say they're suspending all flights to Tel Aviv over safety concerns amid the increasing violence. Lufthansa said Tuesday evening that it was suspending all Tel Aviv flights for 36 hours, including those operated by subsidiaries Germanwings, Austrian Airlines and Swiss.More >>
    BERLIN (AP) - Germany and France's largest airlines Lufthansa and Air France say they're suspending all flights to Tel Aviv over safety concerns amid the increasing violence. Lufthansa said Tuesday evening that it was suspending all Tel Aviv flights for 36 hours, including those operated by subsidiaries Germanwings, Austrian Airlines and Swiss.
    More >>
Powered by WorldNow
All content © Copyright 2000 - 2014 WorldNow and KHQ. All Rights Reserved. For more information on this site, please read our Privacy Policy and Terms of Service.