By DON GLENN
April 12, 2015
Many concerns stay over exactly what effect medical marijuana taxes may have on the New York state spending plan. There’s some need to downplay widespread optimism that it would be a remedy for closing fiscal gaps.
Take Colorado, for example, where in February 2014 it had actually been estimated that state would gain $118 million in taxes on leisure cannabis for the first year it was legislated. After 7 months of the revenue generated there, the state has revised its estimates to $69 million, more than 40 percent off the initial forecast.