Colorado’s marijuana sales expected to reach $1.5 billion in 2017

Colorado’s marijuana sales expected to reach $1.5 billion in 2017


Throughout the month of August, earnings of flowers, edibles, accessories and concentrates were almost $137 million -- $100.3 million in recreational cannabis earnings and $36.5 million in medical marijuana

The Colorado Department of Revenue report lists licenses, bud taxation and fees . The receipts reflect sales made in August but have the capacity to change due to late or incomplete returns from months.

The tax data includes some stipulations. It is the next full month where bud earnings have been subject to another taxing structure, and also the reports signify a "period of transition," DOR officials state.

The special sales tax fee for recreational marijuana rose to 15 percent from 10 percent in July, since the consequence of a new law which also exempted recreational bud products in the 2.9 percent benchmark state sales tax. Medical accessories and marijuana continue to be subject to this 2.9 percent sales tax fee.

The Calculations for August and July reported for the 15 percent earnings tax that was brand new.

Country officials and economists have estimated that the growth rates for the cannabis earnings of Colorado will moderate as the market evolves along with cannabis measures are adopted by states.

Here's a look at the past yearly sales of Colorado totals:

2014: $699,198,805

2015: $996,184,788

2016: $1,313,156,545

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