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Colorado state tax revenue from the legal cannabis industry surpassed $2 billion in January and the state has collected more than $88.7 million in fees.
In addition to state and local taxes and fees, cannabis businesses have an effective federal tax rate of about 70% – compared to about 26% for other businesses.
Did you know Colorado legal cannabis dispensary owners are unable to deduct normal business expenses like payroll and rent from their federal income taxes?
Marijuana has contributed over $320 Million dollars to Building Excellent Schools Today (B.E.S.T.), making up about 25% of the program's entire budget.
In FY 21-22 alone, nearly $15.3 million in state cannabis dollars went to state Affordable Housing Grant and Loans.
The Marijuana Tax Cash Fund collected $188.8 Million in FY 2021-22 alone.
In FY 21-22 alone, nearly $15 million in cannabis dollars went to the School Health Professional Grant program.
More than $15 million in cannabis dollars went to substance abuse treatment in FY 21-22.
More than $1.6 million cannabis dollars went to the Tony Grampsas Youth Services Program in FY 21-22.
Voters in 59 of 64 Colorado counties voted no on Proposition 119 sending a clear message against raising taxes on cannabis consumers.
Unlike other legalized substances, the marijuana industry has a 97% compliance rate for unauthorized sales.
Unlike alcohol, research has proven you can only get “so high.” Cannabinoid receptors in your brain eventually prevent the body from getting further intoxicated.
Did you know? Since legalization in 2005, teen use in Colorado has remained flat and is below the national average.
According to a recent poll by the Pew Research Center, more than 90% of Americans think cannabis use should be legal.
Did you know? MIG represents more than 400 cannabis business licenses across the state.
A 2021 study found that medical cannabis use was associated with clinical improvements in pain, function, and quality of life with reductions in prescription drug use.
Founded in 2010, MIG is the oldest and largest trade association for licensed cannabis businesses.
Colorado’s marijuana model has become the example for all other regulated cannabis states, and MIG works directly with policy makers to ensure that Colorado’s program is fair, tightly regulated, safe, and successful.
Safe Sales: Every marijuana sale in CO takes place on camera and requires multiple ID checks.
All regulated marijuana in Colorado is tracked from “seed to sale,” with oversight from the Marijuana Enforcement Division.
Established in 2010, MIG has led legislation for child resistant packaging, customer safety resources, and purchase restrictions for 18-20 year olds.
Marijuana is taxed at both state and local levels. This year Aurora built a new $34 Million dollar rec center, fully funded by local marijuana taxes.
The marijuana industry suffers from unfair Federal tax rules, which means that MIG members’ effective tax rates are around 71%.
A 2019 study showed that crime does not increase with legalization.
Conditions for medical marijuana
Cancer - Glaucoma - HIV or AIDS - Cachexia - Persistent muscle spasms - Seizures - Severe nausea - Any condition for which a physician could prescribe an opioid - Autism Spectrum Disorder - Severe pain - PTSD
Most marijuana businesses have access to banks, but because marijuana is still federally illegal, businesses are unable to access merchant processing services such as VISA or Mastercard.
Consuming higher potency marijuana does not lead to higher levels of impairment.
-- Journal of the American Medical Association (JAMA) 2020
71% of Colorado voters favor marijuana legalization. This has increased 10 points in the last four years alone.
Campaign Files Petition Giving Citizens the Right to Allow Recreational Marijuana Sales in Colorado Springs
MIG Press Release
FOR IMMEDIATE RELEASE:
1.20.2022
Contact: Anthony Carlson, 940 733-2695 anthony@6035strategies.com
CAMPAIGN FILES PETITION GIVING CITIZENS THE RIGHT TO ALLOW RECREATIONAL MARIJUANA SALES IN COLORADO SPRINGS
COLORADO SPRINGS – Your Choice Colorado Springs, supported by the Marijuana Industry Group, has filed a petition to give voters in the city the opportunity to vote to allow recreational marijuana activities within the City of Colorado Springs. The amendment to the city charter would allow for recreational marijuana sales, as is common practice across the rest of Colorado.
The Health Center dispensary owner and MIG Board Chair Tiffany Goldman says, “Today marks the culmination of years of efforts by cannabis business owners in Colorado Springs to build their businesses and community in Colorado’s second largest city. MIG is thrilled to support the voters of Colorado Springs to choose if they want to keep their tax dollars at home in their community!”
One of the MIG’s primary objectives is to support local jurisdictions as they opt-in to medical and adult use cannabis sales. The repeal of the Colorado Springs moratorium will help eliminate the illegal cannabis market in the Pikes Peak region through the creation of a competitive, regulated, and safe adult-use cannabis marketplace.
“As an active member in the Colorado Springs cannabis community, Native Roots is proud to support this substantial effort by Colorado Springs residents to have their say at the ballot box this November,” says Native Roots director of public affairs and MIG vice-chair, Shannon Fender. “This ballot measure will allow every existing licensee the flexibility to decide whether they want to stay medical only, choose recreational only, or co-locate medical and recreational under one roof. We’re excited to help generate tens of millions of dollars in tax revenue for the city to fund important public safety, mental health, and veterans PTSD programs.”
Campaign Manager Anthony Carlson says, “It’s going to take every single cannabis business and ally working together to bring this effort successfully to fruition. I look forward to working with the cannabis community in the coming weeks to help figure out how to invest in the future success of your business!”
MIG’s mission is to advance appropriate legislation, regulation, and implementation of Colorado’s licensing and regulatory program. The Your Choice Colorado Springs campaign is in line with our goals as an organization, and we ask all license holders and cannabis industry allies to get engaged in the campaign efforts, more info forthcoming. To find out how you can support the campaign, please contact Anthony Carlson at 940 733-2695 or by email at anthony@6035strategies.com.
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Additional Info
Media Contact : Anthony Carlson, anthony@6035strategies.com