The Colorado Department of Revenue’s announcement that $1.3 billion in regulated marijuana sales took place in calendar year 2016, generating nearly $200 million in state tax revenue. These figures do not include millions of dollars in revenue generated by local taxes on marijuana.
The Cannabist reports:
To put the state’s third year of regulated recreational marijuana sales in perspective, Year One totaled $699.2 million (combined with medical sales) and Year Two jumped up to $996.2 million. The trend should continue in Year Four, but beyond that? It’s a murkier proposition.
2016 was the year in which the $100-million-month became a baseline and heralded a record-breaking summer: The combined sales for July, August and September were $376.6 million.
Monthly sales topped $100 million in eight of the 12 months. In December, which is typically a strong month for cannabis transactions, pot shops’ sales were a little more than $114.7 million, a 13 percent increase from the $101.3 million recorded in December 2015.