A new milestone for Colorado marijuana: $100M in monthly recreational sales
The trend of summer highs for Colorado’s cannabis industry continued in July as monthly recreational sales surpassed the $100 million mark for the first time since legalization.
The Cannabist’s calculations of the latest Colorado marijuana tax data show that the state’s cannabis shops sold nearly $137 million in marijuana products — $101.1 million in adult-use sales and another $35.8 million in medical marijuana sales — during the month of July. Barring any significant variances in monthly receipts submitted to the state, the $136.9 million would set a new monthly record — the previous being $131.69 million in March.
The monthly sales tax reports posted by the Colorado Department of Revenue and the subsequent extrapolations by The Cannabist customarily come with their share of caveats: The reported receipts largely reflect sales made in July but could vary because of aspects such as incomplete or late-filed returns.
The July 2017 sales figures, however, come with some added wrinkles. It’s the first month to reflect a new taxing structure for recreational marijuana.