The city of Denver collected $34.8 million in marijuana taxes during 2020.
In a report released Tuesday, the “Mile High City” issued information for legal cannabis activity under its jurisdiction.
There are fifteen types of marijuana business licenses in Denver that range from dispensaries to cultivation and distribution. The city currently has 441 medical licenses and 476 retail licenses active.
Adding together Colorado’s sales tax, the city’s sales tax and other local taxes, total taxes for medical marijuana amount to 8.81% of sales. The number is significantly higher for retail cannabis, which reaches 26.41%, including a 15% tax called “state special sales tax on retail marijuana.”
– Read the entire article at Benzinga.
