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.
|Calendar Year||Total Revenue|
|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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