Colorado Cannabis Revenue Surpasses $1 Billion Since Legalization. intended to legalize, regulate, and tax cannabis for adult use.
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It took just 10 months for Colorado to hit $1 billion in legal marijuana sales this year. Colorado’s state coffers will receive roughly $150 million in sales taxes, $40 million of which will go to school construction projects. The rest of the revenue will go to the public school fund, substance abuse.
· Colorado just reached $1 billion in total marijuana state revenue. total marijuana sales have surpassed $6.5 billion since the state legalized cannabis in 2014.
The Colorado Department of Revenue shows the total sales for the first 9 months of 2016 at $974.3 million, according to The Denver Post. With three more months of sales to be added to this figure, 2016 will easily outdo 2015’s sales of $996.2 million as well as exceed $1 billion in marijuana sales.
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Colorado marijuana shops have surpassed $1 billion in sales this year. The state collected just over $6 million from the excise tax, bringing the yearly total to $49.7 million, The Cannabist tallied. Of that, the first $40 million will go towards school construction projects, and any additional tax revenue.
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.
· The cannabis industry in Colorado is thriving – the state has reached $1 billion in marijuana tax revenue. We must continue to lead the way.
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.
Colorado Has Generated Over $1 Billion In Recreational Marijuana Tax. Revenue from Marijuana sales is put towards various government.
From January 1, 2014 – June 30, 2017, the state retail marijuana sales tax rate was 10%, the state share was 85% of the total tax collected, and the local government share was 15% of the total tax collected
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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.
The Colorado Department of Revenue announced Thursday the state's marijuana sales had pushed past $1 billion in 2016 and the state pulled.