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Colorado has seen nearly $7.8 billion in total marijuana sales since 2014, according to the state’s latest data. That’s six years worth of recreational pot revenue following legalization.
In 2019, sales hit nearly $1.75 billion for the year, the largest amount to date. Here are a few other interesting things to note:
While medical marijuana only gets a state sales tax, recreational gets a 15 percent excise tax placed on the wholesaler and a 15 percent sales tax on the consumer. Cities and counties can also place a local sales tax on top of that.
The first $40 million from the excise tax goes to the Colorado Department of Education’s Building Excellent Schools Today (BEST) fund, and 10 percent of the sales tax goes to local governments. Much of the remaining money goes to the state general fund and the marijuana tax fund, which helps cover the costs of educational programs addressing substance abuse and treatment.
CPR’s Jim Hill contributed to this report.
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