Colorado Collects $20 Million in Marijuana Taxes in November, $236 Million in 2024
- Marijuana tax revenue in Colorado for the month of November was $22.3 million, consistent with previous months.
- Year-to-date marijuana tax revenue in Colorado is $236,223,020, contributing to a total of $2,854,380,752 since legal sales began in 2014.
- Majority of marijuana tax revenue in Colorado comes from the 15% retail marijuana sales tax and a 15% excise tax on the first transfer of marijuana from wholesaler to retailer.
- Under Colorado's recreational marijuana law, adults aged 21 and older can legally possess specified amounts of marijuana products and cultivate up to six plants for personal use.
This figure is consistent with the $20.9 million made in October and the $21.1 million collected in September. The state’s highest monthly total this year remains $23.2 million, recorded in April.
Year-to-date marijuana tax revenue in Colorado has reached $236,223,020, contributing to an all-time total of $2,854,380,752 since legal sales began in 2014. The majority of marijuana tax revenue in Colorado comes from the state’s 15% retail marijuana sales tax, along with a 15% excise tax on the first transfer of marijuana from a wholesaler to a retailer. Medical marijuana, by contrast, is only subject to the 2.9% statewide sales tax. Additional local taxes of up to 2.9% may also apply to retail sales.
Under Colorado’s recreational marijuana law, approved by voters in 2012 through Amendment 64, adults aged 21 and older can legally possess up to one ounce of dried marijuana, up to eight grams of marijuana concentrates, such as wax, live resin and shatter, and edibles containing no more than 800 milligrams of THC. The personal cultivation of up to six plants (three of which can be mature) is also allowed.