There Was Over $135 Million in Legal Marijuana Sold in Colorado in September

There was over $135 million in marijuana and marijuana products sold legally in Colorado in September, according to data from the state’s Department of Revenue.

In total there was $135,536,453 in marijuana and marijuana products purchased legally in Colorado in September. This is slightly less than the $141 million sold in August, which set a record in the state for the most marijuana sold in a given month.

Of the $135 million in marijuana sold in September, $27.9 million came from medical marijuana sales, the remainder coming from the sale of recreational marijuana. These sales helped Colorado garner around $20 million in tax revenue for September alone.

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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).

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For First Time Monthly Recreational Marijuana Sales Surpass $100 Million in Colorado

For the first time since the start of legal sales, the monthly market for recreational marijuana has surpassed $100 million in Colorado.

According to data released by the Colorado Department of Revenue, there was $137 million in legal marijuana and marijuana products sold in the state in July, with $101 million being from recreational marijuana sales (with the remaining $36 million from medical marijuana). This is a slight increase over the $95 million in recreational marijuana and marijuana products sold in June, and adds to the over $750 million in marijuana sold in the first half of this year. For July, Colorado earned roughly $15 million in taxes from these sales; since the start of legal marijuana sales in 2014, Colorado has garnered well over half a billion dollars in taxes.

July marked the start of a new tax structure for marijuana in Colorado. The tax is now 15% at the point of sale, with recreational marijuana sales exempt from the 2.9% state sales tax; prior to July the tax was 10% in addition to the state sales tax.

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Colorado: $1.3 Billion in Legal Cannabis Sold in 2016, Nearly $200 Million in Taxes Generated

Colorado Department of Revenue has released data showing that there was $1.3 billion in cannabis sold last year.

This resulted in almost $200 million in new tax revenue for the state. A large portion is earmarked towards school construction and funding.

“Over one billion dollars in marijuana sales that once took place in the underground market were instead conducted in regulated businesses this year”, says Mason Tvert, Marijuana Policy Project’s Communication Director. “The state received nearly $200 million in marijuana tax revenue, whereas just a decade ago it was receiving zero.”

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Colorado: Nearly $1.1 Billion in Legal Cannabis Sold in First 10 Months of 2016

Over $1 billion of legal cannabis has been sold in Colorado in the first 10 months of this year. This is according to data released by the state.

coloradoFrom January 1st to October 31st of this year there was a total of $1,092,159,291 in cannabis sold at licensed retail outlets. $720,731,127 of this came from recreational cannabis sales, while $371,428,164 came from medical cannabis sales. By comparison, there was $1.15 billion in legal cannabis sold in Washington State during the same period.

The nearly $1.1 billion sold in Colorado has netted the state roughly $300 million in taxes. This comes from three different statewide cannabis taxes; a 2.9% sales tax, a 10% special tax and a 15% excise tax on wholesale transfers (which goes directly towards school construction and funding).

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For First Time Legal Cannabis Sales in Washington are Equal to Cannabis Sales in Colorado

cannabismoney1Up to this point, legal cannabis sales have been considerably higher in Colorado than Washington State, due in no small part to the fact that sales began in Colorado roughly six months earlier. However, that has changed, as there was almost an equal amount of cannabis sold in the two states in July.

According to recently released sales data, there was roughly $122 million worth of legal cannabis sold in Colorado in July. By comparison, there was roughly $121 million in legal cannabis sold in Washington during the same time period. In August, there was $130 million in cannabis sold in Washington, the highest amount ever sold in one state in one month. Sales data for August for Colorado won’t be released until next month.

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Colorado: $112 Million of Legal Cannabis Sold in June

Legal Cannabis SoldThere was $112 million of legal cannabis sold in Colorado in the month of June, an over 30% increase from June of 2015.

Of the $112 million of cannabis sold, $74 million was from recreational cannabis outlets, and $38 million was from medical cannabis dispensaries. The recreational sales mark a 47% increase from last year, while medical sales grew by 8%.

Sales of concentrates are on the rise more than anything else, with a 73% increase in June of this year compared to June, 2015. Now concentrates make up 24% of total sales (compared to 18% last year).

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Colorado: Over a Quarter Billion Dollars in Legal Cannabis Sold in First 3 Months of 2016

cannabismoneyThere was over $270 million in legal cannabis sold in Colorado in the first three months of the year, according to the state’s Department of Revenue. At this rate, there will be roughly $1.1 billion sold throughout 2016, an $100 million increase from 2015, and a $400 million increase from 2014.

In March, the most recent month where sales data is available, there was $55 million in recreational cannabis sold, and $33 million in medical cannabis sold. This marks a 30% increase from March of last year.

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Colorado: Over $100 Million in Legal Cannabis Sold in August, Over $13 Million in Taxes Garnered

state-flag-coloradoFor the first time, there was over $100 million in legal cannabis sold in just one month in Colorado, with $100.6 million sold in August.

In August, there was $59.2 million in recreational cannabis sold, and $41.4 million in medical cannabis sold, according to numbers released by the Colorado Department of Revenue.

These sales resulted in the state garnering over $13 million in taxes and fees; $11.2 million from recreational cannabis and $2 million from medical cannabis.

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Cannabis Being Sold Today Tax Free in Colorado

coloradoLegal cannabis is being sold tax free today throughout Colorado as part of a one day “tax holiday”.

As part of the tax holiday, all state taxes on cannabis sales are made void today, September 16th, bringing the average price of an ounce down by $20 – $50.

The tax holiday was signed into law in June by Governor John Hickenlooper, mandated by the state’s Taxpayer’s Bill of Rights (TBoR) which requires voter approval for all new taxes, and requires that any new taxes be waived and refunded if overall state collections exceed projections given to voters when they approve a new tax, as it did this year.

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