Colorado Hits Billion Dollar Sales Mark in Nine Months

According to data from the Colorado Department of Revenue, the Rocky Mountain state sold over $1 billion dollars in cannabis through the first nine months of 2017.

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It took the state 10 months to reach the billion dollar mark in 2016. Sales totals through the first nine months of this year have reached a total of about $1.1 billion—the highest amount of total sales to date in the country.

When comparing the data to last year, through 9 months of sales Leafly found that Colorado totaled $942 million, with the totals in 2017 so far showing there was over a $100 million dollar increase in sales from the same time period, totaling $1,118,207,832.87 in sales.

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Through the first nine months of 2017, Colorado has seen a fairly steady increase from the year prior, with the state routinely breaking its total sales record in the past 6 months–first in March, and then in July, when the state totaled more than $136 million in total cannabis sales, when combining adult-use sales and medicinal marijuana sales.

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The state initiated a different taxing structure in July 2017, with the special sales tax rate for recreational marijuana sales increasing from 10% to 15%. The new law exempted adult-use cannabis sales from the 2.9% standard state sales tax rate.

Medical marijuana and accessories are still subject to that 2.9% special sales tax rate, however.


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