This is a guide to regulating legal markets for the non-medical use of cannabis. It is for policy makers, drug policy reform advocates and affected communities all over the world, who are witnessing the question change from, 'Should we maintain cannabis prohibition?' to 'How will legal regulation work in practice?
A measure to impose taxes on recreational marijuana passed making pot one of the most heavily taxed consumer products in Colorado. Proposition AA imposes a 15 percent excise tax on the wholesale price and an initial 10 percent sales tax on the retail price. The measure is expected to bring in $67 million a year. Of that, $27.5 million generated by the excise tax would go toward school construction, as specified in the constitutional amendment that legalized recreational marijuana use.