Colorado Marijuana Sales Reached $167 Million In February
April 17, 2021
Published on April 13, 2021 By Marijuana Moment
Colorado’s overall cannabis sales for the first two months of 2021 are $78 million higher than those for January and February of 2020.
By Robert Davis, The Center Square
Total marijuana sales in Colorado reached $167 million in February, the state’s revenue department announced on Friday.
The total represents a $20 million decline in sales from the previous month. However, Colorado’s overall sales for the first two months of 2021 remain $78 million above the pace set between January and February of 2020.
Marijuana sales are calculated by adding the total sales for both medical and recreational marijuana sales in Colorado’s 64 counties.
Denver County led all others in total recreational sales with over $38 million. Arapahoe and Adams counties followed suit with $13 million and $11 million in recreational sales, respectively.
Denver also led the way in medical marijuana sales, bringing in a total of $14 million. El Paso County was a close second, reaping over $10 million in medical sales.
Sales are not automatically accounted for in the state’s accounting system. This means the Department of Revenue (CDOR) relies on each county to report their sales before reporting the total. In effect, marijuana sales are reported one month behind tax and fee revenue totals.
Meanwhile, Colorado collected over $33 million in tax revenue in March. This total represents both taxes levied from medical and recreational marijuana sales, as well as license and application fees.
Between February and March, state tax revenue from marijuana sales declined 4 percent, according to CDOR data.
Tax revenue comes from a 2.9 percent state sales tax on marijuana sold in stores, a 15 percent state retail marijuana sales tax, and a 15 percent state retail marijuana excise tax on wholesale sales or transfers of retail marijuana.
This piece was first published by The Center Square.
Search
RECENT PRESS RELEASES
Investors in Everett firm claim it was a Ponzi scheme
SWI Editorial Staff2024-07-26T20:50:47-07:00July 26, 2024|
Cathie Wood’s ARK ETF adjusts holdings with key stock trades By Investing.com
SWI Editorial Staff2024-07-26T20:50:37-07:00July 26, 2024|
Should You Invest In Spot Ether ETFs? Here’s What Experts Say
SWI Editorial Staff2024-07-26T20:50:36-07:00July 26, 2024|
RFK Jr. promises BTC strategic reserve, dollar backed by hard assets
SWI Editorial Staff2024-07-26T19:54:51-07:00July 26, 2024|
RFK Jr. takes swings at Trump, pitches Bitcoin strategic reserve at Nashville conference
SWI Editorial Staff2024-07-26T19:54:49-07:00July 26, 2024|
Bitcoin forming ‘massive’ bullish wedge pattern as trader eyes $85K
SWI Editorial Staff2024-07-26T19:54:47-07:00July 26, 2024|
Related Post