Colorado Sets Marijuana Sales Record With Over $140 Million Sold in August

There was over $140 million worth of marijuana and marijuana products sold legally in Colorado in August, setting a new monthly record.

In total there was $141,322,108 in marijuana and marijuana products purchased legally in Colorado in August, according to the state’s Department of Revenue. This bests the previous record set the monthly prior ($138.8 million).

Of the $141 million in marijuana sold in August, $28.3 million came from medical marijuana sales, with recreational marijuana sales falling  barely short of $113 million. These sales helped Colorado garner over $20 million in tax revenue for the month of August.

The new data brings the state’s total marijuana sales for 2018 to $1,022,245,511. This puts Colorado on track to sell around $1.6 billion in legal marijuana for 2018, which would slightly higher than the $1.5 billion sold in 2017, and noticeably more than the $1.3 billion sold in 2016.

Marijuana was legalized in Colorado in 2012, with marijuana retail outlets opening for business in 2014.  Marijuana is taxed at 15% (plus the standard 2.9% statewide sales tax), with the revenue going towards schools, hospitals and roads.

The post Colorado Sets Marijuana Sales Record With Over $140 Million Sold in August appeared first on TheJointBlog.

from https://thejointblog.com/colorado-sets-marijuana-sales-record-with-over-140-million-sold-in-august/

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