
Colorado Recreational Sales Beat Medical For The First Time
Sales of legal retail marijuana have topped sales of medical marijuana in Colorado for the first time since the state’s recreational pot shops opened their doors on Jan. 1, according to tax figures released by the Colorado Department of Revenue.
During the month of July, the state received $838,711 from a 2.9% tax on $28.9 million of medical marijuana sales, versus $2.97 million from a 10% sales tax on $29.7 million of retail marijuana sales.
This is a small victory for champions of legalization who have argued that the experiment will be profitable for the state, but if retail sales continue to increase, while medical marijuana sales hold steady, expectations of a windfall from legal pot are less likely to go up in smoke.
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