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Daily Tax Report: State

Colorado Nears $1B in Pot Revenue Since Retail Sales Began

Feb. 12, 2019, 6:15 PM

Sales of recreational and medical marijuana generated about $266.5 million in tax, license, and fee revenue in Colorado in 2018, with the state now approaching $1 billion in revenue since legal recreational pot sales began in 2014.

  • Last year’s revenue is an increase over $247 million in 2017, according to data released Feb. 12
  • Colorado marijuana sales reached $1.5 billion in 2018—and $6 billion to date since adult-use marijuana sales began
  • Revenue from marijuana totaled more than $927 million since Jan. 1, 2014, a figure that includes revenue for January 2019
  • The state is forecast to reach the $1 billion mark in the first half of 2019—“We’re getting close,” Shannon Gray, spokeswoman for the state Department of Revenue, told Bloomberg Tax Feb. 12

To contact the reporter on this story: Tripp Baltz in Denver at abaltz@bloomberglaw.com

To contact the editors responsible for this story: Jeff Harrington at jharrington@bloombergtax.com; Megan Pannone at mpannone@bloombergtax.com

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