Over $122 Million in Legal Marijuana Sold in Colorado in May
Those in Colorado purchased over $122 million worth of marijuana and marijuana products in May, according to new data released by the state’s Department of Revenue.
All together there was $122,868,216 worth of marijuana and marijuana products purchased legally in Colorado in May. This is a slight decrease from the $124 million sold in April.
Of the $122 million in marijuana sold in May, around $26.2 million came from the sale of medical marijuana, while the other $96.6 million came from those 21 and older purchasing marijuana for recreational purchases. From these sales, Colorado garnered nearly $20 million in tax revenue.
The new data brings the state’s total marijuana sales for 2018 to around $610 million. This puts Colorado on track to sell around $1.5 billion in legal marijuana for 2018, which would be on par with the $1.5 billion sold in 2017, and slightly higher 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.