Ever considering the fact that Colorado’s adult-use cannabis sales started on January 1, 2014, the state’s marijuana business has continued to be an instance of what can be achieved socially and financially in a functional legal atmosphere.
A month-to-month cannabis sales and tax report that the Colorado Division of Income (DOR) released on February 12 shows that sales of marijuana have totaled much more than $six billion considering the fact that they started 5 years ago.
The report includes the final sales and tax figures from January 2014 via January 2019.
Income from cannabis taxes, licenses, and charges generated $683.five million in 2014, and have continued to develop ever considering the fact that, reaching a existing total of much more than $927 million, according to the report.
The report shows that tax, license, and charge income was $21.five million in January 2019.
In December, DOR reported that the price tag of cannabis flower was $781 per pound and trim was at $325.
“The quarterly Typical Marketplace Price (AMR) update is just 1 of quite a few examples of the Division of Revenue’s use of information in assisting regulate the burgeoning cannabis business,” mentioned DOR executive director Mike Hartman. “Industry participants use this report as component of excise tax calculations in specific retail transactions, but the Division sees it as 1 of the vital tools that the state utilizes to closely monitor provide, demand, and pricing dynamics.”