Colorado Garnered $76 Million in Taxes from Legal Cannabis Sales in 2014

Colorado garnered roughly $76 million in taxes from legal cannabis sales in 2014, according to figures released Tuesday by the state’s Department of Revenue.moneycannabis

In total, $44 million in taxes was brought in from recreational cannabis sales, with the additional $32 million coming from industry fees and sales of medical cannabis.

In Colorado, the possession, cultivation and state-licensed distribution of recreational cannabis is legal for those 21 and older. Sales of recreational cannabis began on January 1st.

In Washington, figures released last month found that the state garnered $16 million in taxes from legal cannabis sales in 2014, a number considerably lower than that of Colorado, but unsurprising considering sales in Washington didn’t begin until July, and there are only around 100 outlets open throughout the state.


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