The Impact Of Marijuana Legalization To The Tax Revenue In Colorado

The Mayor of Littleton, Colorado has heard many times how the legalization of marijuana could benefit the state. There are words of encouragements from mayors of other states including Pennsylvania, New Jersey and Massachusetts. Not to mention the fact that it is being endorsed to her during council meetings and when she has to deal with executives that are full on support of the cannabis industry. Many have told her about the positive impact it will have because revenue from CO Tax ID will never be enough to pay for new schools as well as build new roads.

Every time she is faced with the topic, she has always stood her ground against it because for her the number of people in her community that does not want it is more than those who want it. The same thing is currently happening in New Jersey because the officials in the municipalities are also not sold with the idea of legalizing weed in their state. The issue is getting hotter by the minute because of the recent encouragement made by Governor Phil Murphy who wants the Garden State to legally sell marijuana.

For the past six months, New Jersey his set on banning the selling of marijuana within the state with Point Pleasant Beach and Shrewsbury Borough leading. Over 20 towns have also called for the ban of marijuana sales beginning at the Shore until it reached municipalities such as Brigantine, Old Bridge and Hasbrouck Heights. In total, 4 per cent of the municipalities all over New Jersey issued bans.

Though personal consumption is allowed in these towns, there will be no marijuana dispensaries allowed in the local area. Looking at what’s happening in New Jersey, one can look back at what Colorado municipalities also did when the 2012 ballot included in the legalization of marijuana for recreational reasons.

The result is that around 70 per cent of the counties and cities are not in favor because they believe that tax revenue gathered from businesses and entities with CO tax ID will be enough for the development of the state. Now looking at the state, 93 cities including counties have marijuana dispensaries for recreational purposes because there are those who believe that their state will also benefit from the tax revenue like other states where marijuana is legal.

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