{"id":7785,"date":"2017-10-12T00:19:47","date_gmt":"2017-10-12T00:19:47","guid":{"rendered":"http:\/\/www.denverpost.com?p=2818647&amp;preview_id=2818647"},"modified":"2017-10-12T00:19:47","modified_gmt":"2017-10-12T00:19:47","slug":"colorados-2017-marijuana-sales-reach-1-billion-in-just-eight-months","status":"publish","type":"post","link":"https:\/\/cannitrol.com\/blog\/colorados-2017-marijuana-sales-reach-1-billion-in-just-eight-months\/","title":{"rendered":"Colorado\u2019s 2017 marijuana sales reach $1 billion in just eight months"},"content":{"rendered":"<div id=\"wp_fb_like_button\" style=\"margin:5px 0 5px 5px;float:right;height:100px;\"><script src=\"http:\/\/connect.facebook.net\/en_US\/all.js#xfbml=1\"><\/script><fb:like href=\"https:\/\/cannitrol.com\/blog\/colorados-2017-marijuana-sales-reach-1-billion-in-just-eight-months\/\" send=\"true\" layout=\"standard\" width=\"450\" show_faces=\"false\" font=\"arial\" action=\"like\" colorscheme=\"light\"><\/fb:like><\/div><div class=\"media_block\"><\/div>\n<div class=\"row\">\n<div class=\"large-10 large-centered small-12 columns\">\n<div class=\"entry-meta-date\">Published: Oct 11, 2017, 5:54 pm \u2022 Updated: Oct 11, 2017, 6:17 pm<span class=\"single-comments-link\" \/><\/div>\n<p class=\"byline\">By <span class=\"author\"><a class=\"url fn n\" href=\"http:\/\/www.thecannabist.co\/author\/awallace\/\" rel=\"author\">Alicia Wallace<\/a><\/span><em>, The Cannabist Staff<\/em><\/p>\n<p>Legal marijuana is a bona fide billion-dollar industry in Colorado. And it\u2019s hitting the mark faster than ever.<\/p>\n<p>In 2017, Colorado eclipsed $1 billion in marijuana sales in eight months; in 2016, <a href=\"http:\/\/www.thecannabist.co\/2016\/12\/12\/colorado-marijuana-sales-1-billion-first-10-months-2016\/69189\/\">it took 10 months<\/a>.<\/p>\n<p>Colorado\u2019s marijuana retailers logged upward of $1.02 billion in collective medical and recreational sales through August, according to The Cannabist\u2019s extrapolations of state tax data released Wednesday. Year-to-date sales are up 21 percent from the first eight months of 2016, when recreational and medical marijuana sales totaled $846.5 million.<\/p>\n<p>This year\u2019s cumulative sales equate to more than $162 million in taxes and fees for Colorado coffers.<\/p>\n<p>During the month of August, sales of flower, edibles, concentrates and accessories were nearly $137 million \u2014 $100.3 million from recreational cannabis sales and $36.5 million from medical marijuana \u2014 according to The Cannabist\u2019s calculations.<\/p>\n<p>The Colorado Department of Revenue\u2019s <a href=\"https:\/\/www.colorado.gov\/pacific\/sites\/default\/files\/0917%20Marijuana%20Tax%2C%20License%2C%20and%20Fees%20Report%20PUBLISH.pdf\" target=\"_blank\" rel=\"noopener\">latest report<\/a> lists marijuana taxes, licenses and fees remitted in September. The receipts largely reflect sales made in August but have the potential to vary because of incomplete or late returns from prior months.<\/p>\n<p>The monthly tax data now comes with some additional stipulations. It\u2019s the second full month in which marijuana sales have been <a href=\"http:\/\/www.thecannabist.co\/2017\/01\/19\/colorado-marijuana-tax-hike\/71699\/\">subject to a different taxing structure<\/a>, and the reports reflect a \u201cperiod of transition,\u201d DOR officials say.<\/p>\n<p>The special sales tax rate for recreational marijuana increased to 15 percent from 10 percent in July, as the result of a new law that also exempted recreational marijuana products from the 2.9 percent standard state sales tax. Medical marijuana and accessories are still subject to that 2.9 percent sales tax rate.<\/p>\n<p>The Cannabist\u2019s calculations for <a href=\"http:\/\/www.thecannabist.co\/2017\/09\/12\/colorado-marijuana-sales-july-2017-pot-taxes\/87930\/\">July<\/a> and August 2017 recreational sales are based on revenue reported for the new 15 percent sales tax.<\/p>\n<p>Economists and state officials have projected that the annual growth rates for Colorado\u2019s cannabis sales will eventually moderate as the local market matures and other states adopt recreational cannabis measures.<\/p>\n<p>Here\u2019s a look at Colorado\u2019s previous cumulative yearly sales totals:<br \/>2014: <a href=\"http:\/\/www.thecannabist.co\/2015\/02\/12\/colorado-marijuana-sales-2014-700-million\/27565\/\">$699,198,805<\/a><br \/>2015: <a href=\"http:\/\/www.thecannabist.co\/2016\/02\/09\/colorado-marijuana-sales-2015-reach-996-million\/47886\/\">$996,184,788<\/a><br \/>2016: <a href=\"http:\/\/www.thecannabist.co\/2017\/02\/09\/colorado-marijuana-sales-2016\/73415\/\">$1,313,156,545<\/a><\/p>\n<hr \/>\n<hr \/>\n<div id=\"title\">Sales stats for Colorado weed<\/div>\n<div id=\"subtitle\">A month-by-month look comparing sales of recreational and medical marijuana, as calculated by The Cannabist:<\/div>\n<div id=\"canvas-container\">\n<div id=\"legend-container\">\n<div id=\"recreational\">2017 Recreational total (8 months)<br \/>$733,057,112<\/div>\n<div id=\"medical\">2017 Medical total (8 months)<br \/>$291,978,141<\/div>\n<div id=\"revenue-total\">2017: $1,025,035,253<\/div>\n<div id=\"recreational\">2016 Recreational total (12 months)<br \/>$875,277,360<\/div>\n<div id=\"medical\">2016 Medical total (12 months)<br \/>$437,879,186<\/div>\n<div id=\"revenue-total\">2016: $1,313,156,545<\/div>\n<\/p><\/div>\n<\/div>\n<p \/>\n<hr \/>\n<hr \/>\n<div class=\"entry-meta-author\">\n<div class=\"authorimage\"><a class=\"url fn n\" href=\"http:\/\/www.thecannabist.co\/author\/awallace\/\" rel=\"author\"><img src=\"https:\/\/cannitrol.com\/blog\/\/wp-content\/uploads\/2017\/10\/colorados-2017-marijuana-sales-reach-1-billion-in-just-eight-months.jpg\" class=\"authormug\" \/><\/a><\/div>\n<p class=\"author-desc\">Alicia Wallace joined The Cannabist in July 2016, covering national marijuana policy and business. In her 14 years as a business news reporter, her coverage has spanned topics such as the economy, natural foods, airlines, biotech, retail,&#8230;<\/p>\n<\/div><\/div>\n<\/p><\/div>\n<p><!-- .row --> <\/p>\n","protected":false},"excerpt":{"rendered":"<div class=\"media_block\"><\/div>\n<p>In 2017, Colorado has eclipsed $1 billion in marijuana sales in eight months. In 2016, it took 10 months to reach that mark. <\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5062,1867,6811,6813,77,5667,6858,6822,9,5019,1,3,2379,61,1736],"tags":[5063,4435,6816,6818,2655,5673,6860,6824,5022,4974],"_links":{"self":[{"href":"https:\/\/cannitrol.com\/blog\/wp-json\/wp\/v2\/posts\/7785"}],"collection":[{"href":"https:\/\/cannitrol.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cannitrol.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cannitrol.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cannitrol.com\/blog\/wp-json\/wp\/v2\/comments?post=7785"}],"version-history":[{"count":0,"href":"https:\/\/cannitrol.com\/blog\/wp-json\/wp\/v2\/posts\/7785\/revisions"}],"wp:attachment":[{"href":"https:\/\/cannitrol.com\/blog\/wp-json\/wp\/v2\/media?parent=7785"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cannitrol.com\/blog\/wp-json\/wp\/v2\/categories?post=7785"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cannitrol.com\/blog\/wp-json\/wp\/v2\/tags?post=7785"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}