Since recreational pot shops opened in Colorado in January, sales have topped medical marijuana sales for the first time. According to recent tax figures released by the Colorado Department of Revenue, the state received $838,711 from a 2.9% tax on medical marijuana and $2.97 million from the 10% sales tax on retail marijuana. According to the report, retail sales were estimated at $29.7 million and medical sales approximately $28.9 million. The report has been considered a victory for legalization advocates who predicted that the revenues from retail priced marijuana would be profitable for the state.
Still, some reports indicate that the revenues have lagged behind some earlier projections. Regardless, the massive revenues have been a guidepost for other states considering the potential benefits of legalization. Our Orange County medical marijuana attorneys are dedicated to protecting the rights of users, dispensary owners, and others involved in the marijuana business. Our firm has continued to track legal trends and developments in California, Colorado and nationwide. In addition to staying abreast of local trends in marijuana law, we also provide strategic advocacy to protect the rights of our clients who are under investigation or charged with marijuana crimes. We can also help to insulate individuals and business owners by helping to ensure regulatory compliance.