(Kathryn Scott Osler, Denver Post file)

Pot taxes: June best month yet for recreational sales in Colorado

DENVER — June was the best-selling month yet for recreational pot in Colorado, with $24.7 million in total sales, according to state tax collections reported Friday.

Recreational pot sales were up more than 19 percent from May sales, an increase likely attributable to more stores opening.

Since January, Colorado has reaped $29.8 million from marijuana, according to June collections reported by the state Department of Revenue. That figure includes taxes, licenses and fees from both medical and recreational pot.

Recreational pot is inching toward medical pot in total sales.


Colorado tax results: All of the state’s reported monthly results for 2014, in one convenient place


In January, Colorado’s statewide sales tax on medical pot produced nearly twice the taxes produced by recreational pot. By June, the statewide 2.9 percent sales tax from medical pot brought in less than 20 percent more than the same tax on recreational weed.

Estimates for how much tax revenue legal weed would produce varied widely, with no preceding legal pot taxes on which to guess sales.

An estimate sent to Colorado voters last year projected the annual tax collections from sales and excise taxes on recreational pot at $70 million a year. And in February, Colorado Gov. John Hickenlooper sent lawmakers a budget request that projected some $98 million in pot taxes this fiscal year, which began in July.
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Kristen Wyatt can be reached at http://www.twitter.com/APkristenwyatt


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Pot forum video: How’s it really going in Colorado? Panel discussion on edibles issues, tax revenue questions, the need for increased public education and more

Big changes ahead: Colorado’s recreational marijuana industry started a transformation July 1 that could add hundreds of new pot businesses to the state and reconfigure the market’s architecture

Listen to the NPR audio: What has Colo. learned from its legal pot sales?

Watch: Colo. Gov. John Hickenlooper, veteran broadcaster Katie Couric talk marijuana in Aspen on July 1, the six-month anniversary of legal recreational pot sales in the state