colorado legal marijuana sales
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Colorado Makes $3.2 Million In Taxes On Legal Marijuana In February

colorado legal marijuana salesCourtesy of The Joint Blog

Legal cannabis sales has earned the State of Colorado over $3 million in tax revenue for the month of February alone. This number represents an increase of roughly $300,000 from the tax revenue earned by the state in January.

Of the $3.2 million collected, $1.43 million came from a special 10% sales tax on recreational cannabis, with $438,253  coming from the state’s standard 2.9% sales tax.

The states 2.9% sales tax on medical cannabis produced $1.02 million in tax revenue in February.

Denver County generated the largest amount of tax revenue from legal cannabis sales, with nearly $1.5 million.

Source: TheJointBlog.Com

  • WWallace Mud

    Remember that these figures are only accounting the revenue directly generated from marijuana sales not the other huge tax revenues that are being generated by the spin-off industries and the income taxes, both state and national, that are being generated by the increased employment. Then there’s the all the banks and their investors who are making new money from the loans to start businesses and buy equipment to service the booming pot-tourism etc. etc.

    None of these revenues will show up immediately or even ever be directly attributed to pot legalization. In the long run Colorado’s government coffers [allowing them to finance increased public services and jobs] and general economy will get a huge boost across all sectors.