Colorado sold $1.7b in cannabis last year, hauls $260m in tax revenue

Those sales pulled in almost US$200m in tax revenue for the state

In 2016 – the third calendar year of legal recreational cannabis – Colorado dispensaries sold A$1.7 billion (US$1.3b) of recreational and medical marijuana, recent State tax data has revealed.

Of the US$1.3b sold, $875m of it was from recreational weed, while the remaining $438m was from medical weed.

According to Denver Post’s The Cannabist, the haul from year-one of legalisation was US$699m, which grew to US$996m in 2015.

Those sales figures pulled in almost US$200m (A$260m) in revenue for the state.

At the end of last year, the State’s governor John Hickenlooper announced bold plans to spend marijuana tax money on combating homelessness.

MORE: Colorado’s bold plan to spend $16m+ in weed taxes on the homeless

Meanwhile down under, recreational cannabis is still illegal.

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