Colorado surpasses last year’s marijuana revenue with two months still to go

The cannabis industry brought in $205.1 million dollars in revenue for Colorado from January through October 2017, according to the state.

Maat Kahn behind the counter at Simply Pure. (Chloe Aiello/Denverite)
Maat Kahn behind the counter at Simply Pure. (Chloe Aiello/Denverite)
Maat Kahn behind the counter at Simply Pure. (Chloe Aiello/Denverite)

With two months still to go, Colorado already raked in more money this year than ever before from taxes and fees on marijuana sales, according to new data from the state.

The cannabis industry brought in $205.1 million dollars in revenue for the state from January through October 2017 — a 05.9 percent or $11.48 million increase over last year. The tax numbers released this week by the Colorado Department of Revenue show cannabis sales continue to grow three years after recreational sales started in Colorado.

Tax collections jumped 12.7 percent or about $23.1 million from September to October. The jump pushed the state over the $193.6 million collected last year.

Marijuana Taxes, License, and Fee Revenue
Calendar Year Total Revenue
2014 $67.59 million
2015 $130,41 million
2016 $193.6 million
2017 (Jan.-Oct.) $205.08 million
Source: Colorado Department of Revenue

From January through September 2017, Colorado’s cannabis companies did $1.16 billion in sales, according to an estimate from The Cannabist.

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Business & data reporter Adrian D. Garcia can be reached via email at agarcia@denverite.com or twitter.com/adriandgarcia.

Adrian D. Garcia

Author: Adrian D. Garcia

Adrian D. Garcia is on business and trends for Denverite, serves as treasurer for the Colorado chapter of the Society of Professional Journalists and on the board of the Denver Press Club. He can be reached at agarcia@denverite.com.