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“we’re Anticipating A Significant Increase (of Marijuana Tax Revenue) This Year,” He Said.

Medical cannabis transactions totaled $38.4 million. Light and other economists have previously projected that Colorado’s marijuana market would eventually hit a ceiling as the draw from the black market becomes more complete, regular economic cycles take hold and other states implement adult-use sales. It’s hard to predict when that plateau may occur , but the license and application fees in the March 2017 report were telling, Light said. Ten months into Colorado’s fiscal year (the latest report for March sales show tax revenue remitted in April), the license and application fees for medical marijuana businesses and retail marijuana businesses were down 25.4 percent and 8.5 percent, respectively, according to the Colorado colorado marijuana Department of Revenue report. “This shows that fewer new firms are entering and, I believe, shows that … sales should be tapering off or declining,” he said. Mark Bolton, marijuana advisor to Colorado Gov. John Hickenlooper, said the sales tax revenues tallying $185 million for the fiscal year-to-date are in line with expectations . “We’re anticipating a significant increase (of marijuana tax revenue) this year,” he said. “I don’t think we’re anticipating any dramatic changes in the market.

To read more visit http://www.thecannabist.co/2017/05/10/colorado-marijuana-sales-statistics-march-2017/79215/

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