Silver Silver
order now Order Ahead
Published
February 28, 2020

Cannabis Brings in Record $300 Million in Taxes for Colorado in 2019

Last year saw the largest cannabis sales in Colorado since the state’s voters legalized recreational marijuana.

Medical and recreational cannabis sales hit a record $1.75 billion in 2019, up 13% from 2018, according to data from the Department of Revenue’s Marijuana Enforcement Division. Marijuana tax collections also hit an all-time high, at more than $302 million in 2019.

December closed out the year with strong sales totaling more than $144 million, up 6.7% compared to the previous year. But that wasn’t the biggest month of 2019; instead, August topped the calendar year with $173 million in sales.

All told, Colorado marijuana sales now have hit $7.79 billion since recreational sales began in 2014.

Truman Bradley, the newly appointed executive director of the Marijuana Industry Group, said the revenue increases in Colorado track with expectations, The Denver Post reports.

“People are moving from the unregulated market to the regulated market,” Bradley said. “As reefer madness goes away, as the stigmatism of cannabis reduces and people come over to the regulated market, I would expect that trend to continue.”

Since January 2014, Colorado’s cannabis industry has generated $1.21 billion in tax revenue.

Those taxes are allocated to the state’s public education fund, which covers initiatives such as the Colorado Department of Education’s Building Excellent Schools Today (BEST) fund; the state general fund, which covers agencies’ expenses; and the marijuana tax fund, which benefits programs related to substances abuse and treatment, health research, youth education and more. Tax revenues also benefit local governments.

You Might Also Like
Specials
Medical Half Ounce Special
Medical Half Ounce Special

Stock up on premium strains at a great price

View Details View Details
Incredibles Special
Incredibles Special

March sale of your favorite edibles

View Details View Details
Fuehl Promo
Fuehl Promo

Get the best price on vape cartridges

View Details View Details
5-pack Prerolls
5-pack Prerolls

Huge discount on Silver Stem prerolls! Get them now.

View Details View Details
15 off new
15% OFF App Sign Up Deal

Sign up and save! Get a special discount just for joining.

View Details View Details
Red Rocks Festival Deal
Red Rocks Festival Deal

Get a discount on your purchase to enjoy the festival!

View Details View Details
Rec Half Ounce Special
Rec Half Ounce Special

Get a great deal on half ounces of select premium strains!

View Details View Details
Budget Flower Tier $15 eights
Budget Flower Tier

Get it now at select Silver Stem locations!

View Details View Details
Penny Ounce Punch Card
Penny Ounce Punch Card

Try 15 strains and get a penny ounce as a reward!

View Details View Details
Senior Special
Senior Discount

Get a permanent discount as a senior citizen!

View Details View Details
Close