Colorado Cannabis Tax Revenue Breaks Annual Record
Colorado’s annual marijuana tax revenue haul has already reached a new high for the seventh straight year, according to the latest data from the state Department of Revenue.
The DOR’s latest monthly report on marijuana tax revenue shows that November’s $32.5 million in combined marijuana taxes and fees pushed 2021’s overall total past $392.8 million. That’s nearly $5.4 million more than the previous record made in 2020 — with one month left to spare.
Colorado collects four different forms of marijuana taxes and licensing fees from the legal marijuana industry: a 15 percent tax on recreational pot sales, a 15 percent excise tax on wholesale marijuana, a 2.9 percent sales tax on recreational and medical marijuana purchases, and various licensing and application fees that state-approved marijuana businesses must pay.
– Read the entire article at Westword.
Original Article
