Colorado’s regulated marijuana system generated more than $135 million in revenue for the state in 2015, including more than $35 million for school construction projects, according to the Colorado Department of Revenue.

There were just under $588 million in adult-use marijuana sales in Colorado from January-December 2015, producing approximately $109.1 million in tax revenue in addition to $4.7 million in license and application fees. The state’s regulated medical marijuana system produced more than $11.4 million in tax revenue and $9.8 million in license and application fees.

In 2014, the state’s regulated marijuana system raised just over $76.1 million in total revenue, including about $56.2 million from adult-use marijuana tax revenue and fees and $19.9 million in medical marijuana tax revenue and fees.

“There are hundreds of millions of dollars in marijuana sales taking place in every state,” said Mason Tvert, the Denver-based director of communications for the Marijuana Policy Project. “Colorado is one of the few where those sales are being conducted by licensed, taxpaying businesses.”

Adult-use marijuana sales in Colorado are subject to the state’s standard 2.9% sales tax, plus a 10% special state sales tax. Additionally, wholesale transfers of adult-use marijuana are subject to a 15% state excise tax. The first $40 million raised annually by the 15% excise tax is earmarked for public school construction projects. The excise tax raised just over $35 million in 2015, up from.............http://www.theweedblog.com/colorado-marijuana-revenue-exceeded-projections-in-2015/

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