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Colorado On Pace to Sell Over $1 Billion of Marijuana in 2016

Colorado Marijuana Sales

Colorado’s latest statistics show that dispensaries sold over $270 million of marijuana in the first three months of 2016. At that pace, sales will surpass $1 billion this year. Last year, Colorado dispensary sales totaled near $997 million.

The Colorado Department of Revenue found that more than $170 million of sales was from recreational marijuana and the remaining $100 million was from medical marijuana, reports Denver7 News.

March saw $90 million in marijuana sales, a slight decrease from February, which was Colorado’s fifth most profitable month for sales since the law was implemented in January 2014.

$3.5 million in taxes were collected from recreational sales in March. Tax revenue goes toward school construction projects. The state expects tax revenue to reach $40 million for 2016.