Colorado Has Sold $1.6 Billion in Marijuana in 2020
While the pandemic has rocked nearly every industry, dispensaries have never been busier and they've been considered an essential business throughout this period.
On Wednesday, November 11, the Colorado Department of Revenue released marijuana sales, tax and fee figures from September and October of 2020.
- September 2020: $206,488,268
- January - September 2020 Calendar Year Total: $1,629,814,361
- To Date Total (since January 2014): $9,417,516,755
Marijuana Tax and Fee Revenue:
- October 2020: $35,410,293
- January- October 2020 Calendar Year Total: $318,040,248
- To Date Total ( since January 2014): $1,526,007,090
The marijuana sales reports summarize total sales made by medical and retail marijuana stores monthly by county, according to a press release from the Colorado Department of Revenue.
While fee revenue comes from marijuana license and application fees, tax revenue comes from the state sales tax of 2.9 percent placed on marijuana sold in stores.
The state retail marijuana sales tax of 15 percent is placed on retail marijuana sold in stores. The state retail marijuana excise tax on wholesale sales and transfers of retail marijuana is also 15 percent.
You can view the full marijuana revenue report here.