In Colorado there was about $140 million worth of legal marijuana and marijuana products sold in September.
According to data released by the Colorado Department of Revenue, the state garnered $21,770,274 in tax revenue from the legal distribution of around $140 million in marijuana sales. This includes the sale of dried marijuana flower as well as a plethora of other marijuana products including edibles, concentrates, topicals and vaping products.
The $21.7 million in taxes garnered is a slightly decrease from the $22.8 million made in August and the $22.1 million made in June. The high mark for the year came in April, with $24.3 million in taxes made.
The year-to-date total for marijuana sales is now around $1.2 billion, resulting in around $210 million in tax revenue.
The total taxes garnered since the start of legal marijuana sales in 2014 is $2.55 billion.
Colorado was one of the first two states to legalize marijuana with the passage of a 2012 citizen’s initiative, alongside Washington State. Although marijuana possession became legal the following year, the first marijuana stores didn’t begin opening until 2014.
In Colorado retail marijuana is subject to a 15% sales tax levied on retail sales, and a 15% excise tax levied on the first transfer of marijuana from a wholesaler to a processor or retailer. This is in addition to the state’s 2.9% states sales tax, and a local tax of up to 2.9%. Medical marijuana is exempt from the 15% sales tax and 15% excise tax, but not the 2.9% statewide sales tax.
More data on Colorado marijuana tax revenue can be found by clicking here.
