From January 1st of this year to the end of August, there was over $1 billion worth of legal marijuana and marijuana products sold in Colorado.
Colorado marijuana sales have surpassed the $1 billion mark in just eight months this year. In 2016, it took 10 months to reach the same mark. According to The Cannabist, year-to-date sales are up 21% this year compared to the first eight months of 2016, when sales totaled $846 million.
The over $1 billion in legal marijuana sales for 2017 have resulted in over $162 million in taxes for the state. This is garnered from a 15% excise tax on marijuana sales, which was raised in July from 10% (though at the same time marijuana sales were exempted from the states standard 2.95 sales tax).
In total there has been roughly $4 billion in marijuana sold since legal sales began in 2014: $699 million in 2014, $996 million in 2015, $1.3 billion in 2016, and $1.02 billion so far this year.
About Anthony Martinelli
Anthony, co-founder and Editor-in-Chief of TheJointBlog, has worked closely with numerous elected officials who support cannabis law reform, including as the former Campaign Manager for Washington State Representative Dave Upthegrove. He has also been published by multiple media outlets, including the Seattle Times. He can be reached at TheJointBlog@TheJointBlog.com.