Revenues from Colorado’s legal cannabis industry have surpassed over a half-billion dollars since retail sales began on January 1, 2014.
According to an analysis by VS Strategies, cannabis-related taxes and fees have yielded $506,143,635 in new state revenue over the past three and one-half years. Local tax revenue was excluded from the analysis.
Much of the revenue raised has gone to fund school construction projects, school-drop out and substance abuse prevention programs, and grant funding.
The half-billion dollar total far exceeds initial projections. Tax revenue from legal cannabis sales in Oregon and Washington have also exceeded regulators’ initial expectations.
Tags: Colorado marijuana legalization, Colorado medical marijuana, marijuana sales, marijuana tax revenue, marijuana use, medical marijuana, recreational marijuana, retail marijuana, retail marijuana sales, revenue, tax and regulate
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