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).

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