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Mar 11, 2014 9:20 PM by Matt Fernandez

Colorado bringing in big bucks from marijuana tax revenues

TUCSON - Colorado marijuana tax revenues just for January nearly doubled all of last year's marijuana tax revenues in Arizona

Colorado cashed in big on marijuana taxes bringing in $3.5 million in tax revenue.

Two million came from "Recreational" sales, and $1.5 million came from medical marijuana.
A big chunk of Colorado's tax revenue will go to programs aimed at keeping kids away from pot.

The first $40 million raised by the excise tax each year will go to school construction and improvement.

In Arizona last year medical marijuana shops sold $33 million worth of pot generating around $1.85 million dollars in tax revenues.

Tucson resident John Gettel has a medical marijuana card. He says legalizing marijuana would bring in a lot more money to the state.

"Bring in needed tax revenue to a state that has had a budget deficit, and we can fill that deficit with important tax revenues. It is exciting to see, and something we can bring to Arizona as well."

But not everyone thinks legalizing marijuana is the way to go, including County Attorney Barbara LaWall. "It's my understanding that there are 250,000 people right now in treatment for marijuana addiction, so why do we want to add more to that number."

LaWall says, "If we need another source of revenue it's up to those in legislature or on the board of supervisors to come up with other ways in which to find additional revenue other than legalizing another harmful substance and putting it out into our community, I think that is the wrong way to go."

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