Colorado generated $20,147,794.18 in marijuana tax revenue in November, according to data from the Colorado Department of Revenue.
This figure is consistent with the $20.9 million made in October and the $21.1 million collected in September. The state’s highest monthly total this year remains $23.2 million, recorded in April.
Year-to-date marijuana tax revenue in Colorado has reached $236,223,020, contributing to an all-time total of $2,854,380,752 since legal sales began in 2014.
The majority of marijuana tax revenue in Colorado comes from the state’s 15% retail marijuana sales tax, along with a 15% excise tax on the first transfer of marijuana from a wholesaler to a retailer. Medical marijuana, by contrast, is only subject to the 2.9% statewide sales tax. Additional local taxes of up to 2.9% may also apply to retail sales.
Under Colorado’s recreational marijuana law, approved by voters in 2012 through Amendment 64, adults aged 21 and older can 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 containing no more than 800 milligrams of THC. The personal cultivation of up to six plants (three of which can be mature) is also allowed.
