In December, Colorado garnered over $19 million in marijuana tax revenue, bringing 2024’s total to over a quarter billion.
According to data released today by the Colorado Department of Revenue, the state made $19,141,932 in taxes from December’s roughly $95 million in sales. This brings the total for 2024 to $255,364,952. The all-time total since 2014 is now $2,873,522,685
Most of Colorado’s marijuana tax revenue comes from a 15% retail sales tax on recreational marijuana and a 15% excise tax on the initial transfer of marijuana from a wholesaler to a retailer. In contrast, medical marijuana is only subject to the statewide sales tax of 2.9%. Additional local taxes of up to 2.9% may also be applied to retail sales.
Colorado’s recreational marijuana law, established through voter approval of Amendment 64 in 2012, allows adults 21 and older to legally possess up to one ounce of dried marijuana, up to eight grams of marijuana concentrates such as wax, live resin, and shatter, and edibles with a maximum of 800 milligrams of THC. These items can be purchased from a licensed marijuana retail outlet or dispensary. Personal cultivation of up to six plants, with no more than three mature at a time, is also permitted.
