Colorado marijuana sales skyrocket to $996M in 2015
February 10th, 2016
Is One Billion Dollars in revenue worth it to you? How do you feel about this tax revenue being used for state infrastructure instead of being spent in the underground market?
Licensed and regulated marijuana stores in Colorado sold $996,184,788 worth of recreational and medical cannabis in 2015, according to new data from the state Department of Revenue. “I think it’s ethical to round that up to a billion,” cannabis industry attorney Christian Sederberg said Tuesday upon ärst hearing the 2015 totals. Colorado recreational marijuana sales ärst started on Jan. 1, 2014.
Colorado also collected more than $135 million in marijuana taxes and fees in 2015 — more than $35 million of which is earmarked for school construction projects. “These are amazing numbers,” said attorney Steve Fox, one of the principal drafters of Colorado’s potlegalizing Amendment 64, “especially on the tax revenue side.” Colorado released marijuana tax data for December 2015 on Tuesday, showing a major uptick in month-overmonth sales. Recreational pot sales jumped more than 21 percent from November to December, landing at $62.2 million — a monthly record in the state’s legal era. Medical sales jumped more than 32 percent in the same period, totaling $39.1 million.
The data on Colorado marijuana sales and taxes ended months of speculation surrounding the 2015 totals, which some believed would top $1 billion. Even though sales didn’t reach that lofty mark, legalization advocates are still content with the 2015 totals. “It’s remarkable that less than seven years ago, all of that money was being spent in the underground market,” said Mason Tvert, the Marijuana Policy Project’s communications director. “Clearly there’s a large demand for marijuana, and we’re now seeing that demand being met by legitimate businesses that are answering to authorities instead of criminals who answer to nobody.” ….click here to read entire story by Richard Baca, @bruvs, Tha Cannibist