Colorado Surpasses $1 Billion in Marijuana Tax Revenue

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Colorado has surpassed $1 billion in tax revenue from marijuana sales since recreational use of the drug was legalized in 2014. Colorado surpasses $1B in pot tax revenue since legalization – Story.

 · 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.

DENVER (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.

In those two months alone, record-breaking marijuana sales generated more than $48 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.

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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. In August, the Democratic candidate outlined $1.3 billion in proposals for new revenue – including higher income taxes on top earners, eliminating.

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Marijuana revenue supports statewide efforts such as youth prevention efforts, behavioral health treatment, protecting public health and safety, and more. colorado pot revenue surpasses b, but.

12 Jan 2017. colorado marijuana sales Surpass $1 Billion in 2016. The sales totals are an increase over last year, when retailers sold $996,184,788 in marijuana-related products. Cannabis sales in 2016 have yielded an estimated $151 million in tax revenue to date, $40 million of which will.

Revenue from marijuana sales has been used to fund improvements to the state’s public schools. "The people who were smoking marijuana before legalization still are. Colorado is one of four states that have legalized recreational marijuana despite a federal ban prohibiting it.

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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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"The cannabis industry in Colorado is thriving – the state has reached $1 billion in marijuana tax revenue," Colorado Gov. Jared Polis (D) announced on Twitter on Wednesday. "We must continue to lead.