Find out how much revenue Colorado raised in 2021 from marijuana sales
Written by Redacción Mota Radio on 19 January, 2022
As reported by the Colorado Department of Revenue, the state collected a record $423 million in tax revenue from marijuana sales during 2021, which, surpasses the previous record set in 2020 of $387 million.
Colorado in total has sold more than $2 billion in marijuana through November 2021, making it the second year in a row that the state has eclipsed that mark.
In December, the state managed to collect more than $30 million in taxes, thereby ending a five-month streak of declining tax revenues.
More than $12 billion in total sales
Since Colorado began legal marijuana sales in 2014, more than $12 billion in cannabis has been sold, and the state has collected more than $2 billion in taxes.
It is worth remembering that “Colorado collects its marijuana taxes from a 2.9% state sales tax on marijuana sold in stores, a 15% state tax on retail marijuana sales, and a 15% excise tax on wholesale sales and transfers of marijuana. The state collects revenue from marijuana license fees and application fees”, Marijuana Moment reviewed.