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Colorado’s August Cannabis Sales Break Previous Sales Record

Colorado has done it again.

Cannabis sales in August topped $126 million, surpassing the state sales record of $122.67 million just a month prior, according to a report from the Denver Post.

The spike could be attributed to the implementation of a law that increased the daily purchase limit for non-residents from a quarter-ounce to 1 ounce; however last year July, August and September represented the biggest sales months for the industry, save for the holiday season in December.

August saw $84.7 million in recreational sales and slightly less than half of that — $41.4 million — in medical cannabis sales. Medical sales remained exactly the same from the same period last year, when recreational sales totaled $59.2 million.

The state’s cannabis industry has raked in nearly $846.5 million through August, after reaching $639 million in the first eight months of 2015. In 2014, the first year of recreational sales, the industry grossed $699.2 million.

So far the state has earned $124.9 million in tax revenues from the industry this year, after netting $86 million last year and $76.2 million in 2014.

In Colorado, tax revenues from the cannabis industry are used to fund education, capital construction grants, and health programs.

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