Tue , November 19, 2019
EnglishSpanish
Home / World Marijuana News / Colorado Surpasses $1 Billion in Tax Revenue from Cannabis Sales

Colorado Surpasses $1 Billion in Tax Revenue from Cannabis Sales

Colorado Cannabis

By Associated Press

 (AP) — Colorado has surpassed $1 billion in tax revenue from marijuana sales since recreational use of the drug was legalized in 2014.

The Colorado Department of Revenue says sales since legalization have topped $6.5 billion, generating $1.02 billion from taxes, licenses and fees.

The state has more than 2,900 licensed marijuana businesses and more than 41,000 licensed workers in the industry.

Gov. Jared Polis says, “This industry is helping grow our economy by creating jobs and generating valuable revenue.”

The Denver Post reports marijuana tax revenue funds a variety of public health programs, including mental health services, youth literacy initiatives and anti-bullying programs in schools.

AP Photo/Matilde Campodonico



X