There was roughly $1 billion in legal cannabis sold in Colorado in 2015, by far breaking the record set in the previous year (which was $894 million). This is according to new data released by the Colorado Department of Revenue.
According to the data, there was exactly $996,184.788 in legal cannabis sold in 2015, which includes both medical and recreational sales. These brought in over $135 million in new taxes and fees for the state, with $35 million of that money going directly into school construction projects.
In Colorado, due to the passage of Amendment 64 in 2012, it’s legal for those 21 and older to possess and use up to an ounce of cannabis, with cannabis retail outlets authorized to sell the plant. The state has three types of taxes on recreational cannabis; a standard 2.9% sales tax, a 10% special cannabis sales tax, and a 15% excise tax on wholesale cannabis transfers.