Colorado cannabis sales figures from August showed decreased sales yet again — for the eighth time in 2022 sales have either fallen or been flat from the previous month, according to the Colorado Department of Revenue.
Sales reached approximately $150.4 million in August, the department reported. The high point for monthly sales in 2022 was March, $162.5 million. The highest monthly sales ever was in July of 2020, during the depths of the pandemic, at $226.4 million.
Subsequently sales tax revenue figures continue the downward slide as well.
In 2021, tax and fee revenue was $423.5 million, compared to the current total through September of $251.7 million. Similarly, annual sales totals are also down to $1.2 billion through August of this year. In 2021, sales reached $2.2 billion for the full year.
Marijuana Sales Reports are a total of the sales from all adult-use cannabis stores by county, as well as medical sales. Tax reports show state tax and fee revenue at $26.4 million for September. The taxes for cannabis include a state sales tax of 2.9%, 15% on retail product sold in stores, and an excise tax of 15% on wholesale transfers or sales of retail marijuana, according to the department.
Since sales of adult-use marijuana began in 2014, total sales through August stood at $13.4 billion and $2.3 billion in tax and fees revenue through September, according to the Department of Revenue.
According to previous reporting, the decrease in medical marijuana sales and tax revenue could be attributed to the passing of HB21-1317. This bill limited the amount of medical cannabis sales from 40 grams to eight grams.
