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Marijuana Sales in Colorado Hit $100 Million Mark

Oct 12, 2015 05:00PM, Published by Stephanie Wilson, Categories: Cannabis News



In August, people in Colorado spent more than $100 million on marijuana—a new record for the state, according to The Denver Channel, ABC 7. Citing figures from the Colorado Department of Revenue, the report indicates that recreational marijuana sales totaled $59.2 million and medical marijuana sales came in at $41.4 million. 

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. 




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