Over $2.22 billion worth of marijuana was bought by people living in Colorado in 2021, which is another record for the city.
There were also new tax revenue figures released by the Colorado Department of Revenue (DOR) on Thursday. They showed that the state made $423,486,053 from medical and adult-use marijuana sales in 2021.
The previous record for sales was set in 2020, when Colorado sold about $2.19 billion worth of marijuana.
There has been a lot of sales of cannabis since the retail market opened in 2014 and a lot of tax money from those sales as of January.
There were more than $2.22 billion worth of marijuana sales in Colorado in 2021. State officials said that last year, people bought more than that amount of marijuana.
There were also new tax revenue figures released by the Colorado Department of Revenue (DOR) on Thursday. They showed that the state made $423,486,053 from medical and adult-use marijuana sales in 2021.
Nearly $500 million in tax money from the sale of marijuana in Colorado has gone to the state’s public schools. The state made a record amount of money from taxes on marijuana last year. It made $423 million in that one year alone.
Regulators in adult-use states are doing what they can to make sure that the tax money is being spent wisely.
California officials said in June that they were giving about $29 million in grants from the state’s marijuana taxes to 58 nonprofit groups, with the goal of righting the wrongs of the war on drugs. During the 2020-2021 fiscal year, the state made about $817 million from taxes on the sale of adult-use marijuana, state officials said back in the summer. That’s 55% more money for the state’s coffers from the sale of marijuana than in the previous fiscal year.