Colorado Surpasses $1 Billion in Marijuana Tax Revenue

Annual excise tax revenues on adult-use cannabis sales (.04 billion) rivaled those for all forms of alcohol $(1.16 billion), the group reported. State-specific sales taxes on retail cannabis purchases also yielded an addition $300 million in revenue in 2018. Authors of the report estimated that.

(Meredith) – Colorado has generated more than $1 billion in tax revenue from marijuana sales since legalizing recreational pot in 2014. This marks yet another milestone for the state, which has sold.

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 · Colorado has surpassed $1 billion in tax revenue from marijuana sales since recreational use was legalized in 2014. Marijuana tax, license and fee revenue has reached $1.02 billion, and marijuana sales over $6.5 billion, the Colorado Department of Revenue announced in a news release. Colorado has 2,917 licensed marijuana businesses and 41,076 licensed individuals.

Marijuana businesses in Colorado, which voted to legalize the drug recreationally in 2012, reported roughly $1.1 billion in legal sales of medical and recreational marijuana and related products this year through the month of October, according to the latest batch of tax data from the state’s Department of.

In those two months alone, record-breaking marijuana sales generated more than million dollars for state coffers. And it was that $48 million that brought Colorado over the $1 billion mark in state revenue. According to marijuana sales data, Colorado’s monthly haul of taxes and fees hasn’t dropped below $20 million since July 2017.

Legal marijuana sales have reached $1 billion in 2016. Colorado cannabis businesses are selling medical and recreational marijuana at an The revenue figure includes all marijuana-related products sold in 2016 and has still yet to include the months of November and December, meaning.

Not to mention, tax revenue from legal marijuana sales can obviously be used for benevolent purposes. We’ve also arrested and incarcerated far too many individuals for nonviolent marijuana-related offenses. It’s long past time for this to end. It’s unclear what might happen to the.

(AP) – Colorado has surpassed $1 billion in tax revenue from marijuana sales since recreational use of the drug was legalized in 2014. The Colorado Department of Revenue says sales since legalization have topped $6.5 billion, generating $1.02 billion from taxes, licenses and fees.

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Colorado Has Hit $1 Billion in Tax Revenue Since Marijuana Was Legalized. Three separate taxes are applied to recreational marijuana sales in Colorado: a 2.9 percent sales tax, an additional 10 percent special marijuana tax and a 15 percent excise tax on wholesale transfers.