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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Historic: State Generates More Annual Tax Revenue From Marijuana Than From Alcohol

cannabismoneyFor the first time in history, a state has generated more annual tax revenue from cannabis than from alcohol.

Between the period of July 1st, 2014 to June 30th, 2015, Colorado collected nearly $70 million ($69,898,059) in taxes from cannabis, and just under $42 million ($41,837,647) in taxes from alcohol. This is according to data released by the state’s Department of Revenue.

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Colorado: Cannabis to be Sold Tax Free Tomorrow, September 16th

theweedstreetjournal.comTomorrow, September 16th, legal cannabis in Colorado will be sold free of any state tax, as part of a one day “tax holiday”.

The tax holiday – which is due to the state’s Taxpayer’s Bill of Rights (TBoR) – was signed into law in June by Governor John Hickenlooper.

Under TBoR, voter approval is required for all new taxes, and there’s a mandate 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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Colorado: Over $500 Million in Legal Cannabis Sold in 2015

coloradoOnce again setting a record, there was $56.4 million in legal recreational cannabis sold in Colorado in July, surpassing the $50.1 million made in June, which was a record at the time. This is according to data released by the state’s Department of Revenue.

In addition to the $56.4 million in recreational cannabis sold, there was $39.8 million in medical cannabis sold, bringing the total amount of legal cannabis sold in July to over $96 million.

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Colorado: Cannabis to be Sold Tax Free on September 16th

coloOn September 16th, recreational cannabis will be sold tax free throughout the State of Colorado. The one day “tax holiday” was signed into law by Governor Hickenlooper in June.

The one day tax-break is due to the Colorado’s Taxpayer’s Bill of Rights. The law requires voter approval for new taxes, and mandates that any new taxes be waived and refunded if overall state collections exceed projections given to voters when they approve a new tax.

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Colorado: $50.1 Million in Legal Recreational Cannabis Sold in June, a New Record

COSealColorThere was $50.1 million in legal recreational cannabis sold in June in Colorado, an over $7.5 million increase from May, and a record for the state, according to the state’s Department of Revenue.

In addition to $50.1 million in recreational cannabis sales, there was $35.2 million in medical cannabis sold, a high for the year. In total, recreational cannabis sales brought in $9 million in taxes and fees for the state, with an additional $1.85 million coming from medical cannabis taxes and fees.

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Colorado Recreational Cannabis Sales Reach Record High in January, $36.4 Million Sold

The newest figures released by Colorado’s Department of Revenue shows that January was Colorado’s biggest month yet in regards to the amount ofColorados-Recreational recreational cannabis sold.

In total, there was $36.4 million worth of recreational cannabis purchased in January, resulting in over $3.6 million in excise taxes, which is being used primarily to increase the state’s public school funding.

“This is really what we expected and hope to see: a shift in the underground market to a regulated market,” says Mason Tvert, Communications Director for the Marijuana Policy Project, which spearheaded Colorado’s successful legalization campaign. “It’s clearly generating significant revenue for the state.”

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$700 Million in Legal Cannabis Sold in Colorado in 2014

There was roughlycolorado $700 million in legal cannabis and cannabis products sold in Colorado in 2014, according to figures released by the state’s Department of Revenue. This has resulted in $76 million worth of taxes.

Of the $700 million sold, $386 million was for medical cannabis and $313 million was for recreational cannabis. This resulted in $76 million in taxes being brought in for the state; $44 million from recreational cannabis, and $32 million from medical cannabis.

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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.

Read moreColorado Garnered $76 Million in Taxes from Legal Cannabis Sales in 2014