Colorado marijuana sales reached $167 million in February

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Published Monday, April 12, 2021
by Robert Davis | The Center Square contributor

(The Center Square) - Total marijuana sales in Colorado reached $167 million in February, the state's revenue department has announced.

The total represents a $20 million decline in sales from the previous month. However, Colorado's overall sales for the first two months of 2021 remain $78 million above the pace set between January and February of 2020.

Marijuana sales are calculated by adding the total sales for both medical and recreational marijuana sales in Colorado's 64 counties.

Denver County led all others in total recreational sales with over $38 million. Arapahoe and Adams counties followed suit with $13 million and $11 million in recreational sales, respectively.

Denver also led the way in medical marijuana sales, bringing in a total of $14 million. El Paso County was a close second, reaping over $10 million in medical sales.

Sales are not automatically accounted for in the state's accounting system. This means the Department of Revenue (CDOR) relies on each county to report their sales before reporting the total. In effect, marijuana sales are reported one month behind tax and fee revenue totals.

Meanwhile, Colorado collected over $33 million in tax revenue in March. This total represents both taxes levied from medical and recreational marijuana sales, as well as license and application fees.

Between February and March, state tax revenue from marijuana sales declined 4%, according to CDOR data.

Tax revenue comes from a 2.9% state sales tax on marijuana sold in stores, a 15% state retail marijuana sales tax, and a 15% state retail marijuana excise tax on wholesale sales or transfers of retail marijuana.

In 2020, marijuana sales in Colorado reached $2 billion.

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