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The Colorado cannabis industry continues to grow at exponential rates and the state could not be happier. Here are ten things that you need to know about Colorado’s cannabis market:
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The Colorado Department of Revenue reported that around $36.4 million of recreational marijuana was sold in January 2015. This represents a 147% increase compared to last January when the state sold about $14.7 million in recreational marijuana.
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Colorado sold more medical marijuana during January 2014 than they did during 2015. Medical marijuana sales decreased from approximately $32.2 million to around $28 million.
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Colorado generated a record amount of tax revenue during January, $8.8 million
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15% of the $8.8 million in tax revenue was from the 15% retail excise tax on marijuana. This amount ($2.3 million) flows into the Public School Capital Construction Assistance Fund.
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Local governments had nothing to complain about either. They get 15% of the 10% sales tax on retail marijuana. The 10% sales tax equaled $3.5 million, so that means that local governments received over a half million dollars!
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Colorado generated over $1 million in license and application fees.
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Analysts cannot make year over year comparisons yet because there was an excise-tax free period during the first few months of recreational sales in 2014.
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From December to January, the school tax sum jumped up about 21 percent, from about $1.97 million to nearly $2.35 million
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Experts are attributing the growth to an increased number of dispensaries operating in Colorado.
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