Colorado Cannabis Tax Revenue Surpasses Alcohol Tax for the First Time Ever

For the first time since Colorado legalized recreational cannabis, the state’s tax revenue for marijuana surpassed its revenue for alcohol.This is no small feat. Alcohol contributed just under $42 million in tax revenue last year, which was actually an increase of 2.4 percent from last year. Cannabis sales contributed nearly $70 million in tax revenue, although this did include revenue from licensing fees, as well as the 10 percent tax on retail sales and the 15 percent excise tax on wholesale cannabis.

The alcohol tax revenue had an increase across the board, in all three tax brackets for the various types of alcohol:

– Read the entire article at Leafly News.