Colorado Surpasses $1 Billion in Marijuana Tax Revenue

Since 2014, more than $6.56 billion in regulated cannabis sales have taken place in the state, including more than $4.46 billion in sales for adult use and nearly $2.1 billion in medical marijuana purchases.

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.

Colorado has now generated more than $1 billion in total state revenue from the legal marijuana industry, another milestone for the state that legalized cannabis in 2014. Colorado already has posted some big numbers: More than $6 billion in total sales of cannabis since the birth of the new industry – over $6.5 billion at the end of May, according to just-released monthly data from the state.

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A $1 billion marijuana windfall for New Jersey? Some say it’s possible. James Nash, State House Bureau, @jmnash Published 6:00 a.m. ET Jan. Colorado, the first state to permit no-questions-asked marijuana sales to adults, reported $193.6 million in tax and fee revenue on the drug in 2016.

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Story highlights. Colorado marijuana shops have surpassed $1 billion in sales this year. Sales are expected to reach $1.3 billion by the end of 2016. Of that, the first $40 million will go towards school construction projects, and any additional tax revenue from the excise tax will go directly to the state’s.

 · According to a new report released by Denver-based Vicente Sederberg LLP, the state of Colorado has collected more than $1 billion in marijuana-related taxes and fees. The numbers became official when the Department of Revenue released its data on marijuana sales and revenue for April 2019.

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More. colorado pot tax revenue Exceeds $500M. Recreational weed sales have generated more than a half billion dollars for Colorado since its legalization, according to a recent analysis. About 51 percent of the accumulated tax revenue has gone to K-12 education, with $117.9 million of it used to.

Share. Tweet. Pin. Share. Smoking their 2014 marijuana sales by an elevated 42.4%, the roots of Colorado’s fast-growing legal marijuana industry cultivated $2.39 billion during 2015, according to a new report published by the Marijuana Policy Group.