Smokin' profits: Colorado dispensaries inhale $1.74 billion in 2019 - Casper, WY Oil City News
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Smokin’ profits: Colorado dispensaries inhale $1.74 billion in 2019

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The marijuana dispensary business in Colorado had its best financial showing last year, according to federal records.

Denver’s Westword looked over sales figures released by the Department of Revenue recently and calculated the marijuana business took in over $1.74 billion in 2019.

“The final 2019 numbers easily beat all previous years since recreational pot sales began in Colorado in January 2014,” said Westword.

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“To date, Colorado pot shops have accounted for nearly $7.79 billion in sales, according to the DOR.”

The Denver Post says 2019 marijuana tax collections hit an all-time high with more than $302 million.

The Post says Colorado’s marijuana tax revenue is mainly allocated to the state’s public education fund, as well as the state general fund and a “marijuana tax fund,” which helps programs related to substance abuse and health research, among other things.