Two states, Colorado and Washington, have legalized Cannabis for recreational pu

Question

Two states, Colorado and Washington, have legalized Cannabis for recreational purposes. Both states have chosen to regulate and tax the sale of recreational marijuana. We will consider how this might change behavior with regards to marijuana use. by analyzing the substitution and income effects. For the purposes of this problem, it is important that both states had effectively decriminalized marijuana before legalizing it, meaning that there was essentially no penalty for recreational use before the law went into effect.

Explanation / Answer

1)The Colorado Property Tax Reduction for Disabled Veterans Referendum, also known as Referendum E, was on the November 7, 2006 ballot in Colorado as a legislatively-referred constitutional amendment, where it was approved. The measure extended a property tax exemption for qualified senior citizens to all U.S. military veterans living in Colorado who are 100% disabled due to a service-related disabilitySo he can apply for this and get Benifit.
2)Colorado's tax collections from recreational marijuana sales in the past fiscal year came in more than 60 percent below early predictions, and now a state lawmaker says it may be time to reconsider the tax formula.
State Rep. Dan Pabon, who is leading a special legislative committee on marijuana revenue, said the medical-marijuana system also may come under scrutiny.
"There's some real impact that the medical marijuana market is having on the recreational marijuana market," said Pabon, D-Denver. "I think it's worth looking at the taxation on the recreational side but also looking at the rules and regulations on the medical side."
Tuesday marked the first meeting of the committee, which is studying how Colorado spends its marijuana tax money. But the actual number came in at just more than $12 million.
A market study for the Colorado Department of Revenue says the lower-taxed medical-marijuana market, which continues to outpace the recreational market in sales, is to blame.
Rather than pulling consumers out of the medical-marijuana market, the recreational market largely has feasted on tourists and people who previously bought pot on the black market.
Meanwhile, state economists have adjusted their predictions. A forecast in June significantly dialed back expectations for the current fiscal year

Related Questions

Navigate

• Browse (All)
• Browse T
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.