Check out the million-dollar figures left by the sale of legal marijuana in Colorado in January

Written by on 14 March, 2021

In 2014 Colorado became the first state in the United States to allow the sale of marijuana, since then millions of users have purchased this plant.

The Colorado Department of Revenue reported that in the month of January this year cannabis sales reached $ 187,603,697.

More than $ 10 billion in total sales

Since marijuana was legalized in Colorado, the state has surpassed $10 billion in total marijuana sales and has collected more than $1.6 billion in marijuana taxes and fees since then.

In January, sales were up slightly more than the $186 million in sales collected in the month December 2020.

Revenue Distribution

Taxes and fees are assessed for both recreational and medical marijuana. Tax and fee revenues collected are distributed to local governments and educational institutions.

Of the marijuana tax and fee revenue collected, three-quarters is allocated to the state’s marijuana tax cash fund, which provides funds to the governor’s office, the department of education, and the attorney general’s office, among others.

According to nonpartisan Legislative Council staff, another 15.56 percent goes to the state’s general fund, and the remaining 12 percent is allocated to the state’s public school fund.

Month of February

In the month of February Colorado collected $34,747,575 in marijuana taxes and fees. However, the Colorado Department of Revenue will release total sales for that month in April.

So far this year, Colorado has collected a total of $69,728,521 in cannabis tax and fee revenue.

 

 

 


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