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Where Does Colorado Cannabis Tax Money Go?

Colorado Cannabis & The Federal Tax Code

Yes on Recreational Legalization in 2022

Colorado citizens can register to vote online or in person through election day

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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.

MIG Members Honor Veterans Day with Specials for Those Who Have Served

MIG Press Release

FOR IMMEDIATE RELEASE

DATE: Thursday, November 11, 2021 

CONTACT: Erin McCann

 

MIG Members Honor Veterans Day with Specials for Those Who Have Served 

 

Cannabis Industry has had Long Partnership with the Veterans Community 

 

Denver — Today and throughout the weekend, Marijuana Industry Group (MIG) partners will be offering specials for Colorado veterans in honor of Veterans Day. Many veterans are active in the industry as dispensary owners, as cannabis advocates, and as consumers and patients that rely on cannabis for relief from a variety of issues such as seizures, anxiety, PTSD, chronic pain and more. MIG has fought to increase access to medical cannabis as a health care option and worked to educate decision makers and the public about the benefits of medical cannabis.  

 

“The least we can do for those who have served their country is ensure they can access the medical cannabis they need for a variety of issues,” said Tiffany Goldman, MIG Board Chair. “MIG members fought with veterans to ensure that physicians can recommend medical marijuana for conditions like PTSD and as an alternative to opioids, and we are committed to continuing to work to expand access to these products for Colorado veterans. Our members are pleased to offer specials to those who have already sacrificed so much, and we look forward to our continued partnership.” 

 

Below are just some of the specials being offered for veterans across the state: 

 

RootsRX 

Aspen, Basalt, Eagle-Vail, Edwards, Gunnison, Leadville 

Veterans Discount increase to 20%, 1906 BOGO $1, Escape Artists creams 25% off (excluding Rose scent), MJM 25% off, Buy one get one for $1 Drops and Pouches on Veterans Day 

Code info: VETS 

The Health Center 

Denver, Boulder 

20% Off Entire Purchase For Veterans from 11/11 to 11/17 at all three of locations 

Epic Remedy 

Colorado Springs 

20% off for Veterans on Veterans Day 

HighQ 

Silt, Carbondale, Snowmass Village, Parachute 

At all High Q locations, increasing the Veteran's discount to 25% off everything in the store for Seniors, Veterans and all active Military on 11/11 Veterans Day. 

The Lodge 

Denver 

Veteran's discount to 30% off everything in the store for Seniors, Veterans and all active Military on 11/11 Veterans Day. 

Igadi 

Northglenn, Tabernash, Idaho Springs, Nederland, Lafayette, Central City, Louisville 

VETERANS DAY WEEK-LONG SPECIALS 

(DEALS VALID FROM 11/8-11/14) 

•35% OFF ESCAPE ARTIST PRODUCTS (REC AND MED) 

*Cannot be stacked. WSL. See store for more details. 

•40% OFF IGADI LIVE RESIN (REC ONLY) 

*Cannot be stacked. WSL. See store for more details. 

•40% OFF ALL IGADI CBD PRODUCTS (REC ONLY) 

*Cannot be stacked. WSL. See store for more details. 

 

VETERANS DAY DEALS 

(DEALS VALID ONLY ON 11/11) 

•40% OFF TOP SHELF FLOWER AND TOP SHELF JOINTS (REC ONLY) 

Blaze Software 

NA 

50% off annual software subscription 

 

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