Colorado: Marijuana Sales Surpass $1 Billion in 2016

DENVER, CO — Retail sales of marijuana in Colorado totaled well over $1 billion in the first ten months of 2016 and are estimated to reach $1.3 billion by year’s end, according to data provided by the state’s Department of Revenue.

The sales totals are an increase over last year, when retailers sold $996,184,788 in marijuana-related products.

Cannabis sales in 2016 have yielded an estimated $151 million in tax revenue to date, $40 million of which will be directed…

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Reminder: Oregon Medical Marijuana Dispensaries Return to Patients Only Jan 1

As of January 1, 2017, Oregon’s medical marijuana dispensaries will no longer be able to sell to adults 21 or older without a valid medical marijuana card as the state’s early recreational marijuana sales end.

Adults 21 or older wishing to purchase marijuana for recreational use will only be able to do so from retail marijuana shops licensed by the Oregon Liquor Control Commission.  Currently, there are about 100 recreational pot shops licensed statewide.

Limited…

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Washington State Surpasses $1 Billion In Retail Marijuana Sales

Washington State Surpasses $1 Billion In Retail Marijuana Sales

OLYMPIA, WA — Licensed retail facilities in Washington state have sold over $1 billion in marijuana flowers and cannabis-infused products since regulators began first permitting such sales two years ago.

Data compiled by the state’s Liquor and Cannabis Board reports that legal sales have now yielded over $275 million in tax revenue.

Last month, state-licensed marijuana sales in Washington totaled $121 million – the highest monthly total yet reported by the Board.

In Colorado, retail sales of cannabis have totaled over $1.1 billion in…

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Colorado: Legal Marijuana Sales Total Nearly $1 Billion in 2015

Colorado: Legal Marijuana Sales Total Nearly $1 Billion in 2015

DENVER, CO — Colorado’s licensed sales of marijuana totaled nearly one billion dollars in 2015, according to economic data provided by the state Department of Revenue.

Licensed retail stores sold $996,184,788 worth of cannabis in the past year, resulting in $135 million in new tax revenue.

As mandated by state law, $35 million in tax revenue was earmarked for public school construction projects.

Total sales in 2015 far exceeded those of 2014, during which time retailers sold just under $700 million in cannabis-related products.

Legal…

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Colorado’s Marijuana Revenue Exceeded Projections in 2015

Colorado’s Marijuana Revenue Exceeded Projections in 2015

Colorado’s Regulated Marijuana System Generated More Than $135 Million in Revenue for the State in 2015, Including More Than $35 Million for School Construction Projects

DENVER, CO — Colorado’s regulated marijuana system generated more than $135 million in revenue for the state in 2015, including more than $35 million for school construction projects, according to the Colorado Department of Revenue.

There were just under $588 million in adult-use marijuana sales in Colorado from January-December 2015, producing approximately $109.1…

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$6.7 Billion in Legal Marijuana Sales Projected for 2016

SAN FRANCISCO, CA — Legal retail sales of marijuana to adults are anticipated to total $6.7 billion by year’s end, according to projections reported this week by ArcView Market Research.

Sales in 2015 totaled $998 million, the report found, an increase of 184 percent over 2014 figures.

As additional states enact regulations legalizing adult cannabis sales, ArcView estimates that retail sales could total as high as $21.8 billion annually by the year 2020.

NORML

NORML

NORML’s mission is to move public opinion sufficiently to legalize the…

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Recreational Marijuana Sales Begin in Oregon

Recreational Marijuana Sales Begin in Oregon

Medical Marijuana Dispensaries Given Head Start Before Other Stores; Oregon Becomes First State to Expunge Prior Nonviolent Marijuana Records

Oregon, which legalized marijuana in 2014 with Measure 91, is beginning sales Thursday, October 1st. Existing medical marijuana dispensaries were permitted to get a head start on sales before other, non-medical stores, which are expected to open in Fall 2016.

This will ensure existing medical marijuana retailers have an opportunity to fairly compete in the new market as it emerges in the next several…

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Most Consumers Choose Retail Marijuana Access Over the Black Market

Most Consumers Choose Retail Marijuana Access Over the Black Market

PAWTUCKET, RI — Retail cannabis providers are far more popular with consumers than are illicit market providers, according to survey data compiled and published by Marijuana Business Daily.

Sixty-nine percent of respondents who resided in states that permit regulated marijuana sales reported no longer purchasing cannabis from the black market.

Pollsters surveyed more than 1,600 medical and recreational users across the country. The results appeared online Tuesday.

The data rebuts concerns that many consumers would continue to solicit the…

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Oregon Releases Draft Rules for Early Recreational Marijuana Sales

Oregon Releases Draft Rules for Early Recreational Marijuana Sales

SALEM, OR — Limited retail sales of marijuana to adults 21 or older will begin in Oregon on October 1, and this week the government agency that oversees medical marijuana sales in the state released proposed regulations for the early recreational marijuana sales.

Earlier this year, the Oregon legislature passed a measure , Senate Bill 460, to allow recreational marijuana sales to adults beginning October 1.  On Wednesday, the Oregon Health Authority, who oversees the Oregon Medical Marijuana Program, issued draft regulations for the…

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Washington: Unlicensed King County Medical Marijuana Dispensaries Must Close

Washington: Unlicensed King County Medical Marijuana Dispensaries Must Close

SEATTLE, WA — Fifteen unlicensed medical marijuana dispensaries in unincorporated parts of King County are illegal and have one month to close, officials said Wednesday.

King County Prosecuting Attorney Dan Satterberg and King County Sheriff John Urquhart made the announcement at a press conference Wednesday.  The 15 affected dispensaries were sent letters earlier in the week informing them that they do not have state-approved licenses for the sale of marijuana and must close down their establishments, they said.

The 15 dispensaries in White Center, Skyway and other unincorporated rural areas of King County are operating illegally under a recently passed law that requires medical marijuana dispensaries to follow the same rules and regulations that recreational pot shops must…

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Washington State Marijuana Legalization: One-Year Later

Washington State Marijuana Legalization: One-Year Later

New Report Finds Major Fiscal Benefits, Decrease in Violent Crime, No Increase in Youth Marijuana Use or Traffic Fatalities – And Massive Drop in Marijuana Arrests; Popular Support for Marijuana Legalization Remains Strong in Washington

As several states consider marijuana legalization initiatives, all eyes are on the initial outcomes of Washington’s marijuana law. In 2012, Washington and Colorado became the first two states to pass laws taxing and regulating marijuana.

Wednesday will mark the one-year anniversary of retail marijuana…

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Washington Earns $70 Million in Tax Revenue from Legal Marijuana Sales in First Year

Washington Earns $70 Million in Tax Revenue from Legal Marijuana Sales in First Year

SEATTLE, WA — Washington launched its second-in-the-nation legal marijuana market with just a handful of stores selling high-priced pot to long lines of customers. A year later, the state has about 160 shops open, tax revenues have soared past expectations and sales top $1.4 million per day.

And who knows – the industry might even start making some money.

Washington pot farmers, processors and retailers have complained all year that heavy state and federal tax burdens, along with competition from an unregulated medical marijuana market,…

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Oregon Passes Bill to Allow Recreational Marijuana Sales by Medical Dispensaries Starting Oct. 1

Oregon Passes Bill to Allow Recreational Marijuana Sales by Medical Dispensaries Starting Oct. 1

SALEM, OR — Lawmakers in both chambers of the Oregon legislature voted this week to approve a bill that will allow medical marijuana dispensaries to sell marijuana to anyone 21 or older starting October 1st.

The bill, Senate Bill 460, was passed 23-6 by the Senate on Tuesday, followed by a 40-19 approval in the House on Thursday.  On Wednesday, possession and limited cultivation of marijuana became legal for adults 21 and older, as 2014’s Measure 91 took effect.

Senate Bill 460 is intended to provide legal access for adults while the state crafts the rules and regulations for recreational marijuana sales to adults, which are expected to begin in the summer of 2016.

Meanwhile, the bill will allow adults 21 and older to purchase up to a quarter ounce of marijuana per day (dried…

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Washington Passes Recreational Marijuana Reform Bill

Washington Passes Recreational Marijuana Reform Bill

OLYMPIA, WA — Washington’s legislature on Saturday passed a measure that that makes several changes to the state’s recreational marijuana laws, ranging from revising the market’s tax structure to zoning rules.

One of the main changes to the current system would be the elimination of the three-tier tax structure and its replacement with a single excise tax of 37 percent at the point of sale.

House Bill 2136 passed the Senate on a bipartisan 36-7 vote and now heads to the governor’s desk. The House passed the measure Friday on a 59-38 vote.

An amendment that passed Friday in the House removed language from the original bill that would have required local bans on licensed marijuana businesses to be approved by the jurisdiction’s voters.

To encourage more cities and counties to…

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Washington House Passes Modest Marijuana Tax Reduction Bill

Washington House Passes Modest Marijuana Tax Reduction Bill

OLYMPIA, WA — The Washington House on Friday passed a measure that makes several changes to the state’s new recreational marijuana market, including eliminating the three-tier tax structure and replacing it with a single excise tax of 37% at the point of sale.  The current three-tier tax structure adds up to an effective tax of 44%.

House Bill 2136 passed the House on a 59-38 vote and now heads to the Senate for consideration. An amendment that passed Friday removed language from the original bill that would have only allowed local bans on licensed marijuana businesses if approved by the jurisdiction’s voters.

To encourage more cities and counties to allow marijuana businesses, the bill directs the state to share pot revenue with jurisdictions that do so. It would also allow…

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Colorado Marijuana Sales Total $700 Million in 2014

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…

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Colorado Sells Nearly $700 Million in Marijuana in 2014

Colorado Sells Nearly $700 Million in Marijuana in 2014

DENVER, CO — Colorado raked in nearly $700 million in recreational and medical marijuana last year, according to newly released data from the Colorado Department of Revenue.

Medical and legal adult-use recreational marijuana sales combined for a total of $699,198,805 in sales, with medical marijuana topping the charts at $385.9 million.  Coming in a close second was recreational pot, totaling $313.2 million in sales.

Colorado state Sen. Pat Steadman (D-Denver) said he is“feeling very encouraged by what we’re seeing so far. Everyone keeps calling this ‘Colorado’s experiment with marijuana legalization,’ but so far everything seems to be working better than planned. … Right now we’re still rolling things out, but it just seems to be rolling out smoother than anyone…

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