Around the Nation
Wed August 13, 2014
Pot Tax Fails To Be A Windfall For Colorado
Originally published on Wed August 13, 2014 6:38 am
STEVE INSKEEP, HOST:
Good morning. I'm Steve Inskeep. The national economy has grown for years, but Colorado's pot economy is not doing well. The state recently legalized marijuana. The governor expected a $100 million tax windfall. But in the fiscal year just ended, the marijuana tax brought in just 12 million. Apparently many smokers buy medical marijuana, which is taxed at a lower rate. It's enough to make a frustrated tax collector wish he had some way to take the edge off. It's MORNING EDITION. Transcript provided by NPR, Copyright NPR.