Colorado medical licenses decline as recreational sales increase. Last year, 66 percent of the total pounds of marijuana flowers and 86 percent of the total units of edibles were for recreational use.
Colorado has surpassed $1 billion in cumulative tax revenue since legalization in 2014. The industry continues to grow, which is good for all of us considering the programs the tax revenue funds. “Marijuana revenue funds a range of youth and public health programs in Colorado, including mental health services, youth literacy initiatives and anti-bullying programs in schools. Marijuana tax revenue goes to both state and local governments.”
The Colorado cannabis industry has eclipsed $6 billion in sales since adult use was legalized five years ago. Last year, sales surpassed $1.55 billion, beating the record of more than $1.51 billion set in 2017, and the state received nearly $1 billion in tax and fee collections.
Despite predictions that cannabis demand in Colorado would begin to level off, sales as of August had already topped $1 billion, the earliest point reaching that mark since adult use was legalized four years ago.
That translates to $200 million in tax revenue. It also puts the state on track to to break last year’s record of more than $1.5 billion in sales.
With the election a week away, please look at The Gazette’s editorial on Amendment 74. The editorial board reversed its position supporting it after the members realized the unintended consequences would pave the way “for expensive, frivolous and opportunistic litigation.” It also may open the door to suing local government over its zoning laws for retail and industrial operations.
Too many rules?
Denver’s program to permit cannabis social clubs is struggling.
Otherwise, Denver’s marijuana businesses flourishing
New report says city’s effective regulation has created jobs and generated tax revenue.
Jefferson County gets grant to steer kids away from cannabis
School district uses grant to hire three new school nurses and six social and emotional learning specialists.
Cannabis-related nonprofit incubator coming to Denver
Founders say Nuvolution aims to help fund education and research efforts.
Just when the Colorado’s marijuana industry was expected to start leveling out a bit, the newest reports show sales have hit yet another all-time high. Heading into what is considered peak sales season, adult-use marijuana sales in Colorado eclipsed $105 million in March 2018, the highest monthly total in the program’s history. That’s up more than 23 percent from February, which on a percentage basis represents the largest month-over-month sales gain in Colorado’s market in more than three years.
As more and more states legalize adult-use marijuana, prices are dropping.
Bills to allow cannabis delivery and dosing of medical marijuana at schools advance
Measure to allow dispensaries to deliver marijuana has passed House and awaits Senate approval
House endorses bill to let school nurses give students medical marijuana.
The New York Times magazine highlights the small Colorado financial institutions that are trying to solve the legal marijuana industry’s banking problems.
A new study shows women with children still living at home are the most likely demographic to use marijuana for health and wellness.
2017 marijuana sales break 2016 record
Colorado officials report marijuana sales for the first 11 months surpassed the $1.31 billion recorded during the entirety of 2016. But the once astronomical sales growth rates are beginning to hit a more realistic pace.
Colorado Speaker of the House Crisanta Duran and Colorado Leads members met this month to talk about ways the cannabis industry can expand on its partnerships with state and local leaders to educate the public about Colorado’s responsible marijuana regulations. Colorado’s rules and regulations have become a model for the nation.
Colorado’s legal marijuana industry generated a record $1 billion in sales during the first eight months of 2017, producing more than $160 million in taxes and fees for critical Colorado services.
With more than $1.02 billion in collective medical and recreational sales through August, sales are up 21 percent from the same period last year, according to The Cannabist, the marijuana news portal of The Denver Post, which analyzed state tax data released last week.
This equates to more than $162 million in taxes and fees for the state, which has received more than half a billion dollars in tax revenue since the first marijuana retail store opened its doors three-and-a-half-years ago.