In 2017, Colorado made more than $247 million in marijuana taxes, licenses and fees. Ever since recreational marijuana was legalized in 2014, the purse has gotten bigger and bigger.
The Colorado Department of Revenue said regulated marijuana sales in calendar 2018 were nearly $1.55 billion , up about 3 percent from just over $1.5 billion in 2017. The state has seen its marijuana industry sales more than double since 2014 when the first year of adult-use pot generated $683.5 million .
Our state government collects almost $30 billion each year through three sources of revenue, with about 40% coming from state taxes (“General Funds”), 30% coming from state fees (“ Cash Funds”), and 30% coming from the federal government (“Federal Funds”).
Financially, Colorado has benefitted from six years of legal marijuana sales. Since the market’s launch, the state has experienced higher-than-expected marijuana sales and tax revenue. Marijuana tax revenue has more than tripled over the past six years, from nearly $67.6 million in 2014 to over $302 million in 2019.
In FY 2019-20, the state budget totals about $32.5 billion. Of the $32.5 billion, $12.2 billion is from the General Fund, which supports basic state-funded services, such as K-12 education, prisons, courts, and public assistance. Most of the General Fund revenue comes from income and sales taxes.
Where is Cannabis Legal to Grow ? Canada. South Africa. United States (these parts have legalized cannabis cultivation for adults, click for details) Alaska. Arizona. California. Colorado. Northern Mariana Islands. Maine. Massachusetts. Michigan. Montana. Nevada. Oregon. South Dakota. Washington, DC (District of Columbia) Vermont. Uruguay.
In Colorado , effects since 2014 include increased state revenues, violent crime decreased, and an increase in homeless population. One Colorado hospital has received a 15% increase in babies born with THC in their blood.
November 6, 2012
Verilife, a dispensary company with locations in six states, found that Colorado had 14.1 dispensaries per 100,000 residents as of 2018. That trailed three other states: Oregon, with 16.5 dispensaries per 100,000 people; Oklahoma, with 15.6; and Montana with 15.1.
Agriculture, manufacturing, mining and tourism are the largest basic sectors, selling primarily outside the state. Manufacturing is the primary driver of the Colorado economy, although less important than it used to be. It accounts for 6.4 percent of output and 5.8 percent of jobs.
Top 25 6-digit HS Commodities Based on 2019 Dollar Value
|—||—||Total Colorado Exports and % Share of U.S. Total|
|—||—||Total, Top 25 Commodities and % Share of State Total|
|1||020130||MEAT OF BOVINE ANIMALS, BONELESS, FRESH OR CHILLED|
|2||854239||ELECTRONIC INTEGRATED CIRCUITS, NESOI|
Customers are technically permitted to buy only 1 ounce at a time (there are about 28 grams in an ounce, so you ‘d have to spend a lot before getting into the danger zone), but that ounce can be accumulated from multiple dispensaries .
For Western states, a driving reason was a fear of Mexican immigrants who used the plant. In Eastern states, it was fear of African Americans and jazz musicians who used cannabis to “take advantage of white women.” Making marijuana illegal was essentially a way to outlaw being an immigrant or not white.
In Denver, overall offenses from March to May 15 dipped by 4% over the same period in 2019. Broken down further, there was a 10% increase in property crimes , while crimes against people dropped 9% during that period. But homicides and aggravated assaults spiked by 66% and 27%, respectively.