Skip to content

Where Does Colorado Cannabis Tax Money Go?

Colorado Cannabis & The Federal Tax Code

Yes on Senate Bill 205

Protecting children and enhancing public safety by regulating intoxicating hemp products

Resources

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.

Marijuana Industry Group Pleased to Announce Tiffany Goldman as New Board Chair

MIG Press Release

FOR IMMEDIATE RELEASE

DATE: Wednesday, December 1st. 2021 

CONTACT: Erin McCann 

 

Marijuana Industry Group Pleased to Announce Tiffany Goldman as New Board Chair 

 

As a Minority Business Owner and Parent Tiffany Brings Experience, Expertise, and Diverse Leadership to the Industry Group 

 

DENVER — The Marijuana Industry Group (MIG), the state’s oldest and largest trade association for licensed cannabis businesses, is pleased to announce their new Board Chair Tiffany Goldman. Tiffany brings more than 9 years of business experience as the Chief Operating Officer and Co-Owner of The Health Center, which employs more than 150 Coloradans in Boulder and Denver, and a former local restaurant owner. Born in New Jersey, Tiffany relocated to Colorado to attend the University of Colorado at Boulder where she graduated with a degree in International Affairs with an emphasis in business.  She is also a proud Latina entrepreneur and mother of three girls. 

 

“I’m excited to take on this leadership role at MIG and eager to continue the work to strengthen and stabilize our industry, increase our legitimacy and influence, and forge new partnerships with members, customers, and localities,” said Goldman. “In addition to expanding awareness and education around the legal cannabis industry and the health and economic benefits we bring, we also need to work to create an industry that is diverse and representative of the people of Colorado. Cannabis is an integral and important part of our state, and we look forward to working closely with lawmakers and stakeholders to continue better serving the communities we live and work in.” 

 

In addition to owning and operating The Health Center, Tiffany is committed to having a positive impact on the communities in which The Health Center serves. She takes pride in ongoing involvement in local community organizations, from weekly meetings to annual drives and benefits. She engages with communities through service projects, fundraising, and by working with city leaders to identify where she can be most effective. 

 

“Our membership is thrilled to have Tiffany’s leadership at the helm of our organization,” said MIG Executive Director Truman Bradley. “Our industry is facing real challenges from many different directions, but there are also real opportunities, and we believe Tiffany’s background and expertise will help us best navigate the road ahead.” 

 

MIG Board Chairs are elected by the membership and serve a two-year term. MIG represents more than 400 licensed cannabis businesses across the state, and you can learn more about MIG membership and leadership at marijuanaindustrygroup.org. 

 

### 

Powered By GrowthZone