S64 in the News: Marijuana tax collections exceed $3 billion since recreational sales started in 2014

Colorado Public Radio spoke with Strategies 64 partner Mason Tvert for its report on the latest major milestone for Colorado’s marijuana market.

Total taxes and fees collected from the marijuana industry in Colorado topped $3 billion since the first recreational sales began in 2014, according to new data from the state.

“Colorado and like many other states has generated billions of dollars in new revenue from the legal sale of cannabis that previously used to just disappear into the underground market,” said Mason Tvert, a spokesperson for Colorado Leads, a marijuana trade group. “And now it’s really important that we ensure these businesses and this industry stay afloat and thrive in this state.”

The tax revenue is earmarked for a variety of programs, including school construction, behavioral health programs, money back to cities and counties, and for regulation of the industry.

Read the full story here.

Weed Wonks Podcast: Tax Attorney Nick Richards of Greenspoon Marder LLP

In the latest episode of Weed Wonks, Strategies 64’s Jordan Wellington talks to tax attorney Nick Richards, partner and co-chair of the Cannabis Law practice at Greenspoon Marder LLP, about how tax policy affects the future of cannabis.

The promise of marijuana tax revenue was a key selling point for legalization, and it continues to be a major policy issue for the regulated cannabis industry. It is also a pain point for many businesses, as well as the consumers they serve. Jordan and Nick take a deep dive into the tax policies surrounding cannabis and what a lack of federal guidance has meant for the cannabis industry.

The Weed Wonks podcast is produced by Strategies 64 in conjunction with our partners at Rootwurks.