(The Center Square) – Total marijuana sales in Colorado reached $ 167 million in February, the state finance department said Friday.
The total represents a drop in sales of $ 20 million from the Last month. However, total Colorado sales for the first two months of 2021 are still $ 78 million above the pace set between January and February 2020.
Marijuana sales are calculated by adding the total sales for medical and recreational marijuana sales in Colorado’s 64 counties.
Denver County led everyone else in total sales with over $ 38 million. Arapahoe and Adams counties followed with recreational revenues of $ 13 million and $ 11 million, respectively.
Denver was also a leader in medical marijuana sales, grossing $ 14 million in total. El Paso County took a close second place with medical sales of over $ 10 million.
Sales are not automatically recorded in the state accounting system. This means that the Treasury Department (CDOR) is relying on each county to report their sales before reporting the grand total. In fact, marijuana sales are posted behind tax and fee income for a month.
Meanwhile, Colorado generated over $ 33 million in tax revenue in March. This amount represents both taxes levied on the sale of medical marijuana and recreational marijuana, as well as license and application fees.
State tax revenues from marijuana sales fell 4% between February and March, according to CDOR data.
Tax revenue comes from a state sales tax of 2.9% on marijuana sold in stores, a state sales tax of 15% on marijuana, and a state excise tax of 15% on marijuana on wholesale sales or transfers of marijuana for retail purposes.