Colorado tax revenues from marijuana now clearly exceeding those from alcohol

As highlighted by this recent Forbes article, headlined “Colorado Now Reaping More Tax Revenue From Pot Than From Alcohol,” the Centennial State now seems to be reaping more public revenue benefits from the wicked weed than from the golden grape. Here are the details:

The tipping point has finally occurred in Colorado: The state is raising more revenue from marijuana taxes than from alcohol.

According to the Colorado Department of Revenue, the state has received nearly $70 million in tax revenue from marijuana from July 1, 2014 through June 30, 2015, easily beating the nearly $42 million in taxes on alcohol….

Colorado is having record recreational sales this summer. In June, recreational marijuana sales hit $50 million for the first time, then in July sales rose over $55 million. If you add in medical marijuana sales, the total comes to $96 million for July, also higher than June’s total of $85 million. The portion of these sales in July that is earmarked for school construction projects is $3 million….

“It’s crazy how much revenue our state used to flush down the drain by forcing marijuana sales into the underground market,” said [Mason] Tvert [of the Marijuana Policy Project] in a statement. “It’s even crazier that so many states are still doing it. Tax revenue is just one of many good reasons to replace marijuana prohibition with a system of regulation.”