How is the Fort Collins Marijuana Tax Money Being Used? [VIDEO]
Almost a billion dollars worth of marijuana was sold in Colorado in 2015.
The state collected $135 million in taxes and $35 million of that will be spent on school projects, according to our friends at TheDenverChannel.com.
That's a lot of cheddar.
I was curious about how the rest of the money would be spent, so I spoke with Tiana Smith. She's the revenue and project manage for the city of Fort Collins, and we chatted about where the money goes, how it's spent, and more.
How much of it is collected by states, counties and cities. Who is to decide what should be done with it?
Also, from a city's or municipality's standpoint, what is it like to have this influx of capital into their budgets?
Over the past two years, the City of Fort Collins has collected $923,000 in taxes on retail/recreational marijuana sales. Since medical marijuana has been on the market since 2010, the city has collected about $1.2 million in sales tax.
For more of the ins and outs of what it's like to have marijuana as a taxable commodity, listen to my interview with Tiana.