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Colorado marijuana dispensaries set a new sales record in 2021, according to the state’s Department of Revenue (DOR), selling almost $2.3 billion, reported Westword.
Colorado marked a record $423 million in tax revenues from cannabis sales in 2021, according to the state’s DOR (compared to the previous record of over $387 million in 2020), “making it the second consecutive year that the state has eclipsed that mark,” informed The Center Square.
December’s $168 million in overall marijuana sales put 2021’s total at $2,228,994,553, beating 2020’s record of $2.19 billion by about $38 million.
Legal states continue to see growth
States that have legalized marijuana have collectively garnered more than $10 billion in cannabis tax revenue since the first legal sales started in 2014, according to a report released by the Marijuana Policy Project (MPP).
“In many instances that revenue is being distributed to much-needed public services and programs, including reinvesting in communities that were devastated by the war on drugs,” Karen O’Keefe, director of state policies at MPP said. In Colorado, $471.9 million of the total revenue generated from cannabis taxes has been dedicated to improving Colorado’s public school system.