Medical and Retail Marijuana Actual Tax and Fee Revenue Collected for January 2014
The Department of Revenue is releasing tax and fee revenue collected on medical and retail marijuana for January 2014.
DENVER, CO - The Department of Revenue is releasing tax and fee revenue collected on medical and retail marijuana for January 2014.
Revenue includes 15% excise tax, retail 10% special sales tax, retail 2.9% sale tax, medical 2.9% sales tax, and retail and medical marijuana application and license fees.
"The first month of sales for recreational marijuana fell in line with expectations," said Barbara Brohl, Executive Director of the Department of Revenue. "We expect clear revenue patterns will emerge by April and plan to incorporate this data into future forecasts."
Tax and fee revenue collections in the first few months of 2014 will be significantly affected in both directions by a number of variables, including but not limited to: the speed of local approval processes, the availability of supply, and a possible increase in initial demand.