Colorado Sets Marijuana Sales Record With Over $140 Million Sold in August
There was over $140 million worth of marijuana and marijuana products sold legally in Colorado in August, setting a new monthly record.
In total there was $141,322,108 in marijuana and marijuana products purchased legally in Colorado in August, according to the state’s Department of Revenue. This bests the previous record set the monthly prior ($138.8 million).
Of the $141 million in marijuana sold in August, $28.3 million came from medical marijuana sales, with recreational marijuana sales falling barely short of $113 million. These sales helped Colorado garner over $20 million in tax revenue for the month of August.
The new data brings the state’s total marijuana sales for 2018 to $1,022,245,511. This puts Colorado on track to sell around $1.6 billion in legal marijuana for 2018, which would slightly higher than the $1.5 billion sold in 2017, and noticeably more than the $1.3 billion sold in 2016.
Marijuana was legalized in Colorado in 2012, with marijuana retail outlets opening for business in 2014. Marijuana is taxed at 15% (plus the standard 2.9% statewide sales tax), with the revenue going towards schools, hospitals and roads.
Vaporleaf
Think of all of the tax money the US could be raking in if this were legalized nationwide! Might shrink that deficit a bit.