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In: Economics
Briefly describe the different methods that Washington and Colorado used to achieve marijuana legalization. Which of...
Briefly describe the different methods that Washington and Colorado used to achieve marijuana legalization. Which of these two do you find most effective?
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Expert Solution
Washington : In Washington growing of Marijuana plants in homeland is legally prohibited. In this country, a heavy percentage of tax is imposed on sales of Marijuana. An excise tax of 25% is imposed on sales of marijuana from grower to processor, processor to retailer and retailer to customer. There is also addition of local taxes along with the excise tax. In Washington, vertical integration is forbidden. Growers, processors and retailers must be licensed in order to continue marijuana business. In Washington, there is also thorough checking of criminal backgrounds of all license holders. There is also extensive product safety testing.
COLORADO : In COLORADO, growing of marijuana plants is permitted in
homeland but it is limited up to 6 plants with three flowering at
any time. In order to legalize marijuana, COLORADO is maintaining a
good tax structure, 15% excise tax on cultivator, 10% special sales
tax and 2.9% standard sales tax. In addition to these tax rate,
there is also imposition of local tax. In COLORADO vertical
integration is allowed for first 9 months - 2 years as per the
locality. Grower, processors and retailers are licensed by
Marijuana Enforcement Division. Medical users must be registered
through Department of Public Health and Environment to use
marijuana legally. In COLORADO there is extensive criminal
background checking for all licenses. There is also tracking system
from seed collection to sale of marijuana. COLORADO also conducts
product safety testing to ensure the quality of product.
In my opinion the following two are the most effective methods to achieve marijuana legalization.
Firstly, issue of license to growers, processors and retailers of
marijuana should be mandatory and there must be checking of
criminal background of all license holders.
Secondly, imposition of heavy tax rate on marijuana from production
to sale is one of the ideal method to legalize marijuana.
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