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Most & Least Taxing States: 2014

By Rebecca Helmes of Bloomberg BNA - 2014-04-14T23:05:22Z

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Of the 44 states that levy an individual income tax, Colorado's is sixth lowest, according to the Tax Foundation. Colorado made history in 2012 as one of the first two states to legalize recreational adult marijuana use, and now the state is raking in cash from taxing pot. It imposes a 15 percent excise tax on recreational marijuana and marijuana-related products and a general 2.9 percent sales tax. And that might not be all, depending on where the stuff is purchased -- localities may enact their own special taxes. Recreational marijuana sales brought in $2 million in taxes in January, and state officials expect steady revenue patterns to develop by April. 

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