Colorado surpasses $1B in pot tax income since legalization – Top Style Today

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Colorado. legalization should result in more than $1 billion in additional tax revenue being collected by the state each year, on top of what it’s already receiving from legal medical cannabis.

Revenue from legal marijuana sales in Colorado has surpassed $1 billion since recreational sales began in 2014, according to the Colorado Department of Revenue. The official number, which is just over $1.02 billion, comprises revenue from marijuana taxes, licenses and fees.

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Marijuana tax revenue hit $200 million in Colorado as sales pass $1 billion. And using research from cannabis business intelligence and market research firm BDS Analytics, Arcview forecasts cannabis sales will grow at a compound rate of 25%, from $6.7 billion in 2016 to $20.2 billion by 2021. The industry is on edge, however,

Text Edge Style. Marijuana businesses in Colorado, which voted to legalize the drug. That number easily tops the roughly $996 million in total marijuana revenue the state. Medical marijuana has been legal in the state since 2000.. collected more than $150 million in taxes from legal marijuana sales,

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Colorado marijuana sales continue to hit new milestones, mark in 2016 until after the end of October, according to DOR tax-revenue data. With the new tax rates in effect, comparing monthly sales from past years isn't as clear now as. have legalized recreational marijuana how much money they spend.