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Colorado’s Marijuana Industry Generates $45 Million In Sales In 1 Month

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colorado marijuana sales taxesDENVER – Colorado’s legal cannabis businesses brought in $45 million in sales and $3.5 million in tax and fee revenue for the state during the historic first month of legal retail adult-use sales, according to the Colorado Department of Revenue. The figures, announced today by state officials, show that Colorado’s dispensaries brought in approximately $14 million in adult-use cannabis sales, and approximately $31 million in medical cannabis sales. Adult-use cannabis taxes and fees for January added $2.1 million to Colorado’s state coffers. Medical cannabis taxes and fees contributed another $1.4 million.

“Colorado’s cannabis business community is proud to support important state programs like school construction through this new tax revenue,” said National Cannabis Industry Association (NCIA) executive director Aaron Smith. “The month of January showed the world that taking marijuana off the streets and putting it behind a taxed, regulated counter can be done professionally, productively, and prosperously. Now it’s time for Congress to reconcile outdated federal laws with those of states like Colorado that have decided to opt out of the failed experiment of marijuana prohibition.”

This week, dozens of cannabis industry leaders will travel to Washington, D.C., to meet with congressional members and staff to discuss critical banking and taxation issues facing the industry. On Thursday, March 13 at 10:30am, three members of Congress will join industry leaders and pollster Celinda Lake in the Cannon House Office Building to hold a briefing on the growing support for the legal cannabis industry. Members of the media are welcome to attend.

WHO:
Rep. Dana Rohrabacher (R-CA)
Rep. Earl Blumenauer (D-OR)
Rep. Jared Polis (D-CO)
Aaron Smith, Executive Director, National Cannabis Industry Association
Celinda Lake, President, Lake Research Partners
NCIA Business Leaders representing California, Colorado, Washington, and other states with active legal cannabis markets

WHAT: “Marijuana: Growing Support and Growing Economies” Capitol Hill Briefing

WHEN: 10:30am, Thursday, March 13, 2014

WHERE: Cannon House Office Building, Room 340

Source: National Cannabis Industry Association

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Johnny Green

10 Comments

  1. They still are doing fine financially. They do not deal with the tax issue, so they undercut the retailers on price. There is pleanty of business opportunity for all.

  2. Too bad that tax revenue isn’t being used properly, and is going straight into the pockets of the Colorado Thug Pig Police Officers, the liars who have been cheerleading and bringing to you prohibition.

  3. Sammy from Miami on

    I hope Michigan gets it on the ballot for full legalization, It sure would be nice to go to A store and buy some joints once in A while!!!!!! it would be nice to have A variety of quality smoke. that orange ,redish shit from Colorado looks premo….

  4. It sure would be interesting to know (a) how much money was going to low-level black market dealers, middlemen and growers before January 1st and (b) how much is going to them now. Legalization must surely be pushing some of these folks into different lines of work.

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  6. Oops I meant what the federal revenue would be if it was legal at a federal level, no matter what state you’re in!!

  7. I wonder what the federal revenue would be with this, it would probably more than pay our national deficit within 1 year if every state got on board, drop our taxes both federally and in each state, not only that, but we then have the options of looking into alternate fuel, clothing, paper products, etc. we can look at using the entire plant, not just the medicine we get out of the plant!! God put it here for a reason!!

  8. I seriously wonder what that number would have been if the industry was not a cash only one during that same period. The rest of the states better hurry up and get on board. Its like the lottery, in my state it is voted down every year, so the bordering states get all our revenue. I hate the idea of such a heavy “sin” tax on cannabis but damn sure like the idea of stopping the prohibition insanity. I suppose once the banking issue is resolved and the store fronts don’t run out of product so quickly *wink* these numbers are going to increase considerably.

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