Colorado: $1 Billion in Legal Marijuana Sold in First 8 Months of 2017
From January 1st of this year to the end of August, there was over $1 billion worth of legal marijuana and marijuana products sold in Colorado.
Colorado marijuana sales have surpassed the $1 billion mark in just eight months this year. In 2016, it took 10 months to reach the same mark. According to The Cannabist, year-to-date sales are up 21% this year compared to the first eight months of 2016, when sales totaled $846 million.
The over $1 billion in legal marijuana sales for 2017 have resulted in over $162 million in taxes for the state. This is garnered from a 15% excise tax on marijuana sales, which was raised in July from 10% (though at the same time marijuana sales were exempted from the states standard 2.95 sales tax).
In total there has been roughly $4 billion in marijuana sold since legal sales began in 2014: $699 million in 2014, $996 million in 2015, $1.3 billion in 2016, and $1.02 billion so far this year.