Taxes from legalized pot not so high

SHARE Taxes from legalized pot not so high

Legalized pot isn’t turning out to be the cash crop some leaders had expected.

Colorado took in $3.4 million in marijuana sales taxes in January and February. State leaders had projected sales tax revenue of $22.7 million or more before July, CNNMoney.com reports.

“If current tax revenues keep coming in at the same pace, we won’t meet that expectation,” state economist Larson Silbaugh said.

Colorado is the first state to legalize sales of recreational marijuana in the country.

Illinois has approved a pilot program for medical marijuana sales.

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