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TAXATION

 

DENVER, CO – In recognition of Tax Day 2018, Marijuana Industry Group (MIG) announces the release of a video designed to answer the frequently-asked question, “where do all of those marijuana taxes go?”

The video deconstructs the complex matrix of monies paid towards excise tax, state sales tax, marijuana special taxes, and more, providing clarity about the economic impacts of both medical and recreational sales in Colorado, in addition to the creation of over 30,000 jobs, with an estimated $3 billion economic impact.

In fiscal year 2016-2017, the state received $211 million in marijuana tax revenues, according to the Department of Revenue’s annual report for the year, making it the 11th largest source of state revenues from taxes and fees,

The video is available for viewing at http://marijuanaindustrygroup.org/mig-videos/ and was created by Marijuana Industry Group and produced by Orange Media.

About Marijuana Industry Group (MIG)

Marijuana Industry Group (MIG), the leading cannabis trade association for Colorado’s licensed businesses, was founded in 2010 by cannabis business leaders to help craft Colorado’s earliest medical marijuana regulatory framework – which was the world’s first licensed, taxed and regulated model. MIG has cultivated strong relationships at the highest levels of state and local government, allowing for real-time education, access, and advancement of practical policy.  As the oldest and largest trade association in the state, MIG represents the interests of, and advocates on behalf of, the rapidly evolving needs of the leaders of regulated marijuana industry in Colorado.

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