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Colorado Cannabis Sales Hit Lowest Level Since 2017

Things have normalized after the pandemic boost.

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Colorado just reported total cannabis sales for 2023, and the state saw its lowest annual total since 2017.

It reported approximately $1.53 billion sales, down from $1.77 billion and the lowest full year total since the state brought in about $1.5 billion in 2017.

The pandemic helped push cannabis sales in Colorado and the rest of the country to record highs. Colorado reported about $2.2 billion in sales for 2020 and 2021. But since the COVID-19 restrictions that drove sales were scaled back, Colorado's annual sales have normalized back to the approximate levels they were at pre-pandemic.

Colorado has now sold more than $15.5 billion worth of medical and recreational cannabis since its market came online in 2014. During that same time period, the state has collected more than $2.6 billion in taxes and fees.

The Marijuana Sales Reports summarize total sales made by medical and retail marijuana stores monthly by county. The Marijuana Tax Reports show state tax and fee revenue collected monthly as posted in the Colorado state accounting system. Tax revenue comes from the state sales tax (2.9%) on marijuana sold in stores, the state retail marijuana sales tax (15%), and the state retail marijuana excise tax (15%) on wholesale sales/transfers of retail marijuana. Fee revenue comes from marijuana license and application fees.

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