Legal cannabis sales has earned the State of Colorado over $3 million in tax revenue for the month of February alone. This number represents an increase of roughly $300,000 from the tax revenue earned by the state in January.
Of the $3.2 million collected, $1.43 million came from a special 10% sales tax on recreational cannabis, with $438,253 coming from the state’s standard 2.9% sales tax.
The states 2.9% sales tax on medical cannabis produced $1.02 million in tax revenue in February.
Denver County generated the largest amount of tax revenue from legal cannabis sales, with nearly $1.5 million.