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Home 🌿 Marijuana Business News 🌿 Tax Revenue Expected To Reach $125 Million As 2015 Colorado Cannabis Sales Near $1B 🌿Tax Revenue Expected To Reach $125 Million As 2015 Colorado Cannabis Sales Near $1B
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The subscription service is currently unavailable. Please try again later.DENVER, Colorado — Colorado’s legal marijuana business boomed last year, with total sales in the state nearing the $1 billion mark, according to current estimates.
Official figures for marijuana sales in December won’t be available until next month, but Ricardo Baca, a staff writer for The Denver Post’s The Cannabist, reported on Jan. 13 that total marijuana sales, including for both recreational and medicinal purposes, had reached $895 million by November.
With cannabis taxed in three ways by the state, including two different kinds of sales tax, Colorado had earned $121 million through that month. That figure represents an especially important windfall for education, Baca noted:
“Perhaps the most-watched figure in the state’s marijuana tax data is the 15 percent excise tax, which is earmarked for school construction projects. In November that tax brought in more than $3 million, up from $2.6 million in October. So far in 2015, those...
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