Colorado Cannabis Sales Exceeded $2B in 2020 Bringing in $32M in Taxes
Marijuana sales in Colorado in November pushed the industry’s annual revenue over $2 billion.
This is another record set since cannabis was legalized for recreational use by a 2012 ballot measure.
Recreational and medical sales for marijuana accounted for about $175 million of revenue in November, according to data released Tuesday by the state Department of Revenue.
While the month’s revenue was down about 12% compared to October, the numbers were sufficient to help the state surpass the $2 billion annual revenue threshold.
The state collected about $32 million in taxes and fees from marijuana sales in November, The Denver Post reports.
The 2020 uptick in marijuana revenue coincides with political momentum that saw voters in South Dakota, Mississippi, New Jersey, Arizona and Montana legalize some form of use in the November election.
Roy Bingham, co-founder and executive chairman of the data firm BDSA, previously told the Post that the national marijuana market grew more than 45% to $18 billion in 2020, which outpaced projections by about $2 billion.
Explore the charm of Fraser and Winter Park, Colorado, offering scenic beauty and thrilling outdoor activities.
Explore the benefits and uses of cannabis for seniors in this insightful guide.
Explore Silver Stem's curated cannabis collection, crafted for your perfect sativa, indica, or hybrid journey.
Compare the benefits and drawbacks of vaping and smoking cannabis to find your best fit.
Discover how cannabis affects pets, from the risks of THC to the potential benefits of CBD.
Portland, Oregon is a must-visit in the fall season.
Explore the evolving landscape of cannabis legalization and prohibition in the United States.
Cannabis has a rich and complex history that spans thousands of years and multiple continents.
Munchies and appetite stimulating effects of cannabis