A recently released Colorado Department of Revenue (CDOR) report detailing monthly marijuana sales figures and tax and fee revenue figures showed record outcomes in a single year.
The CDOR indicated the result stems from November and December 2021 figure analysis. Last year, the state collected more than $423 million in revenue from marijuana sales compared to the prior record of more than $387 million in 2020.
The CDOR determined the state of Colorado also surpassed $2 billion in tax and fee revenue and $12 billion in marijuana sales to date since retail marijuana sales began in 2014.
The summary showed the December 2021 Marijuana Tax and Fee Revenue totaled $30,609,563, with a January – December 2021 Calendar Year total of $423,486,053.
Additionally, the summary revealed November 2021 marijuana sales totaled $158,462,549, while January – November 2021 marijuana sales for the calendar year totaled $2,060,952,959.
The CDOR’s Marijuana Sales Reports summarize total sales made by medical and retail marijuana stores monthly by county while showing state tax and fee revenue collected monthly as posted in the Colorado state accounting system.
Tax revenue is sourced from the state sales tax on marijuana sold in stores, the state retail marijuana sales tax on retail marijuana sold in stores, and the state retail marijuana excise tax on wholesale sales and transfers of retail marijuana. Additionally, fee revenue stems from marijuana license and application fees.