Marijuana Sales in Colorado Hit $100 Million Mark
Oct 12, 2015 05:00PM, Published by Stephanie Wilson, Categories: Cannabis News
This new record is in line with a continuing trend. Sales figures have been on the rise month after month, hitting $96 million in July for combined recreational and medical sales. July was the first time that recreational sales topped $50 million—and that number keeps on growing.
And with the increased sales comes increased tax revenue. ABC 7 reports:
Colorado collected more than $13 million total in taxes, licenses and fees on marijuana in August 2015. That's up 70 percent from August 2014.In a related segment, the channel reports that in the first five months of 2015, the state’s pot-funded excise tax that collects money earmarked for school construction capital brought in more money than it did in all of 2014—and could raise more than $38 million for schools this year.