Colorado has become the first state in America to pass the billion-dollar sale milestone for cannabis. The Colorado Department of Revenue released the statistics of tax on Friday.It stated that the sales of cannabis had reached a sum worth 1.3 billion dollars for the year 2016.
Cannabis is resulting in a big sum of money as the revenues on tax. It is for this reason that the experts of the cannabis industry have predicted that about fifty states of America would have made cannabis legal.This prediction is up to the year 2025.
On Saturday, NORML’s(National Organization for the Reform of Marijuana Law)member Allen St. Pierre said that this movement is just the starting point.
All over the country, the sales of cannabis have experienced a rise of 30 percent in the year 2016. Market researchers say that by the year 2021, the sales would touch 20.2 billion dollars. As of now, only eight states have legalized cannabis.
In 2012, both Washington and Colorado legalized cannabis and saw thePacific Northwest state’s sales of 1.09 billion dollars in the last year.
The officials have reported that Washington earned 256 million dollars for the coffers of state and Colorado netted 200 million dollars that included 50 million dollars, which went to the funding of public schools.
A teacher with special needs,Douglas Hubsher said that other states can join in helping education and that is Colorado’s big boost.In Washington, the revenues from tax will be given to the health plan of the state, departments for marijuana education, departments of prevention programs, and studies that focus on the long term use of cannabis at the Washington University.
David B Richardson, attorney of Seattle, said that when Donald Trump would torch Obamacare, many states would have to devise new techniques and methodologies to pay for their healthcare systems in their respective states.
He said that the sales earned by cannabis should be dedicated to the health care systems in the states.
With the population of 5.2 million in Colorado and 6.9 million in Washington, both these states are very tiny if they are compared to California that houses 28.3 million residents and is the nation’s most populated state. The voters of California passed the Proposition 64 during last November. As a result of this, the recreation usage and consumption of cannabis is likely to initiate from 1st Jan, 2018.
