A new milestone for Colorado marijuana: $100M in monthly recreational sales | VailDaily.com

A new milestone for Colorado marijuana: $100M in monthly recreational sales

Alicia Wallace / The Cannabist Staff
More than 800,000 patients were enrolled in medical marijuana programs in 2017 in 19 states. That doesn't count California and Maine, which don't require patients to register. Other estimates have put the number at more than 2 million .
AP | AP

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.

Read the full story on The Denver Post website, click here.