The sales and taxes of cannabis in Colorado remained strong in November 2015 despite a dip one month earlier, the state’s Department of Revenue has confirmed.
The October-November haul of $51 million –an improvement over the previous month’s $29.6 million– puts the state on track to eclipse $900 million in sales for the entire year. Final tabulations still have yet to be completed, as the December 2015 sales figures won’t be available before February 2016.
A $900 million total for 2015 would also mark a significant improvement over 2014, a year in which less than $700 million in medical and recreational cannabis was sold in the state.
The revenue garnered by the state from the sale of cannabis stems from the three kinds of state taxes levied on the product: in addition to a standard 2.9 percent sales tax, there is also a 10 percent special cannabis sales tax and a 15 percent excise tax on the transfer of wholesale cannabis.