Colorado pot tax for schools hits record, exceeds 2014 total

A marijuana tax for schools in Colorado raised more in the first five months in 2015 than it did for all of 2014.

May excise tax collections reported this week showed the recreational pot tax for school construction raised $3.5 million, bringing the 2015 total to $13.7 million

The tax brought in just $13.3 million in all of 2014.

The Denver Post reports that the jump is partly because there are more marijuana stores and partly because shops last year were given a one-time tax-exempt transfer of their medical plants to the recreational pot side.

Despite the increasing schools tax, the school construction tax is unlikely to produce its maximum $40 million by year’s end.