Colorado Marijuana Sales Total $700 Million in 2014

DENVER, CO — Retail sales of marijuana totaled just under $700 million in Colorado in 2014 – the first full year during which sales of marijuana for both medical and recreational purposes were allowed.

Total sales for the year were $699,198,805, according to data tabulated by the Colorado Department of Revenue. Sales of medicinal cannabis totaled some $386 million for the year, while marijuana sales at recreational outlets totaled $313 million.

Although retail sales of cannabis to anyone age 21 and older began officially on January 1, 2014, few commercial outlets were operational at that time.

Tax revenue from sales of recreational marijuana totaled some $44 million for 2014. That total includes revenues from the imposition of a special 10 percent sales tax and a 15 percent excise tax…