Yes.
Cannabis sales have raised almost $3 billion in tax revenue for Colorado since the state began taxing the drug in January 2014, Department of Revenue figures show.
In November 2013, voters approved two marijuana taxes that went into effect two months later: a 15% sales tax on all recreational cannabis products and a 15% excise tax on wholesale transfers. Medical marijuana is exempt, taxed at the standard 2.9% sales tax rate.
The majority of marijuana tax revenue is disbursed to the general fund and to funds supporting public schools, substance abuse treatment and affordable housing, among other state initiatives.
The entire 15% wholesale tax supports a grant program that helps repair and rebuild deteriorating public schools.
Revenue from cannabis taxes has been declining since it peaked during the pandemic. This year, the state has collected $118 million through June, roughly $10 million less than through June of last year.
See full source list below.
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