Cannabis Taxes are a Boon for Colorado’s Government’s Coffers
- In three years of Colorado's legalized cannabis adult use, the state has collected over $236 million from its 2.9% sales tax and 10% retail tax combined.
- Denver leads the state in cannabis revenues, having raised nearly $88 million from adult use sales -- more than $80.5 million raised by the next five highest-earning counties combined.
- The significantly higher revenue in Denver reflects its much greater density of cannabis businesses compared to other counties in the state.
- Recognizing how cannabis taxes help address Colorado’s budgetary shortfall, lawmakers increased the retail marijuana tax to 15% effective July 1, which will expand the revenues earned from the state’s booming industry.