Colorado Legal Marijuana Sales Set New Record in April

Dispensaries in Colorado sold almost $76.6 million worth of recreational marijuana in April, setting a new record for monthly sales, according to a report from The Cannabist. The previous record of $62.2 million was set in December 2015.

Paired with the near $41 million in medicinal cannabis sales, the April benchmark represents a new all-time high for total monthly cannabis sales in the state, totaling $117.4 million.

According to data from the state Department of Revenue, recreational sales are up more than 80 percent from April 2015, during which $42.4 million in recreational marijuana, oil, and edibles were sold in Colorado.

Through the first four months of 2016, Colorado’s recreational market has netted $246,778,661 while medicinal sales total $140,758,977. So far, the state has raised nearly $57 million in taxes and fees via the legal cannabis industry, which is taxed the standard 2.9 percent sales tax, another 10 percent special sales tax, and a 15 percent excise tax on wholesale transfers – the excise tax is reserved for school construction projects.

At this rate, the recreational market could easily top $700 million in 2016, eclipsing the near $588 million sales totals from 2015. Medicinal sales are also on pace to surpass 2015 totals – which were about $408 million – with an estimated $422 million.

In 2015, Colorado’s legal cannabis market raked $996,184,788 in total sales.

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