Colorado marijuana sales exceed $500 million in the first quarter of 2021
Written by Redacción Mota Radio on 17 May, 2021
Legal marijuana sales in the United States continue unstopped, in Colorado for example, in the first quarter of this 2021, the state sold more than $500 million worth of cannabis, according to the state Department of Revenue (DOR).
Specifically, Colorado’s medical and adult-use cannabis stores recorded $561.7 million in marijuana sales between the months of January and March of this year.
The aforementioned figure represents a 28% increase over the $438.8 million that the state’s cannabis retailers accumulated in that same period in 2020.
Major source of revenue
There is no doubt that since the plant has been allowed to be used in Colorado, this line item has left substantial revenues. Since legalization in 2014 the state has sold more than $10.5 billion worth of marijuana.
Those sales translate into more than $1.7 billion in tax revenue that goes to infrastructure projects, public schools, and local government programs.
Colorado’s monthly cannabis sales figures are calculated by adding up the total sales that are obtained for medical and recreational marijuana.