Published: Oct 11, 2017, 5:54 pm • Updated: Oct 11, 2017, 6:17 pm
Legal marijuana is a bona fide billion-dollar industry in Colorado. And it’s hitting the mark faster than ever.
In 2017, Colorado eclipsed $1 billion in marijuana sales in eight months; in 2016, it took 10 months.
Colorado’s marijuana retailers logged upward of $1.02 billion in collective medical and recreational sales through August, according to The Cannabist’s extrapolations of state tax data released Wednesday. Year-to-date sales are up 21 percent from the first eight months of 2016, when recreational and medical marijuana sales totaled $846.5 million.
This year’s cumulative sales equate to more than $162 million in taxes and fees for Colorado coffers.
During the month of August, sales of flower, edibles, concentrates and accessories were nearly $137 million — $100.3 million from recreational cannabis sales and $36.5 million from medical marijuana — according to The Cannabist’s calculations.
The Colorado Department of Revenue’s latest report lists marijuana taxes, licenses and fees remitted in September. The receipts largely reflect sales made