[420 Girl]

Sales tax revenue, a good indicator of how local economies are doing, shows that medical marijuana accounts for no small part of city income for Colorado Springs, Colorado. The city netted $51,500 in sales tax revenue in the month of June, a 21% increase from May. Since January 2009, the city has brought in more than $327,500 in marijuana sales tax revenues – including all medical marijuana products.

Accounts are up by nearly double last year’s tax receipts.

Other areas are also seeing or considering using a sales tax on marijuana as a way to bolster flagging account books at governments nationally. California’s considered a tax on marijuana as a whole (legalizing the process), according to a story last year in Time Magazine.

Colorado Springs’ neighbor to the north, Denver, has talked about various types of taxes on medical marijuana to pay for things like youth programs or rehab facilities. It may appear on the ballot in November and would generate an estimated $4.24 million (at 6% tax on medical marijuana within Denver). Denver netted over $1 million in sales tax revenue from medical marijuana from January to June 2010.

In April, lawmakers in Maine added dispensaries to those who are required to pay sales taxes on goods in that state. Maine normally exempts prescription medicines, but did not include medical marijuana as one because of the way the cards and dispensing works and justified this by saying that medical marijuana is not covered by the FDA as a drug. Instead, Maine lumped medical marijuana in with over the counter medications like aspirin or cough medicine.

It’s obvious that the medical marijuana case and even the case for legalization all around has merit in terms of helping local economies (rather than draining them through drug-related police actions). It also further legitimizes medical marijuana dispensaries and related industries in the eyes of many lawmakers, showing that it is not just another “hippie craze,” but is in reality a real business with real clientele and professional operations.


NewsHawk: MedicalNeed: 420 MAGAZINE
Source: CannaCentral.com
Author: Aaron Turpen
Contact: Contact Us | CannaCentral.com
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Website:Medical Marijuana Has Lawmakers Seeing Green | Medical Marijuana News | CannaCentral.com


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