Colorado Collects More Than $20 Million From Marijuana Sales
Governor Hickenlooper now expects the state to rake in $114M in marijuana taxes this fiscal year.
Colorado has raked in nearly $22 million from marijuana taxes, licenses and fees this fiscal year, according to state Department of Revenue data released Thursday.
During the first three months of recreational marijuana sales, Colorado’s cumulative revenue from tax and licensing fees for both medical and recreational marijuana has reached $12.6 million. The state has reaped $7.3 million from recreational marijuana taxes alone in the first three months since the first legal sales began on Jan.1.
Sales of recreational marijuana were nearly $19 million in March, up nearly one-third from about $14 million in February, according to state figures. Despite the historic law, medical marijuana — legal in Colorado for years — continues to vastly outsell recreational pot. March medical marijuana sales were about $34 million.