Colorado Garnered Over $60 Million in Taxes and Fees from Legal Cannabis in First Half of 2015

coloradoNew data released by Colorado’s Department of Revenue shows that legal cannabis is being purchased in the state at double the rate it was last year.

In total, the state has garnered $60.6 million in taxes and fees from legal cannabis between January and June of this year, double the roughly $29 million garnered during the same period last year. These numbers include taxes and fees garnered from both recreational and medical cannabis.

In Colorado there are three state taxes placed on recreational cannabis; a standard 2.9% sales tax, a 10% special cannabis sales tax and a 15 percent excise tax on wholesale cannabis transfers. Medical cannabis is subject to the 2.9% sales tax, but not the additional taxes.

There was $442 million in legal cannabis purchased in Colorado between January and June of this year.

TheJointBlog

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