Tuesday, August 6, 2013

Colorado's marijuana money keeps coming

Posted By on Tue, Aug 6, 2013 at 4:45 PM

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As the Medical Marijuana Business Daily reports, a July report shows the state of Colorado has recorded $225.9 $224.9 million in medical-marijuana sales between July 1, 2012 and March 31, 2013, generating $6.23 million in sales-tax revenue for the state. The news organization estimates that, based on current trends reflected in the third-quarter numbers (January through March), sales are likely to top $300 million for Colorado's fiscal year ending June 30.

All this despite shrinking numbers of dispensaries, says the Business Daily.

"Several factors could be at play," it writes, "including a rise in patient numbers; an improving economy that has led to more discretionary income for patients who also consume marijuana for recreational purposes; increasing acceptance; a slight uptick in prices; more accurate reporting by dispensaries and tracking by the state; and possibly even a spike in diversion."

That last point refers to a report from the Rocky Mountain High Intensity Drug Trafficking Area that shows the multi-agency task force intercepted Colorado marijuana destined for other states 274 times in 2012. (We're unclear how they know it was grown in Colorado.) Look for more on that in tomorrow's CannaBiz.

Back here, the state's report shows that 14,572 red-card holders helped El Paso County see $12.5 million in MMJ sales this last quarter, and $36.1 million to date, generating $350,000 and $1 million in state revenue, respectively. The county's portion of that is remitted back by the state at a later date, so amounts aren't listed.

Finally, the most recent report from the city of Colorado Springs shows our local government cleared $109,234 in June from sales of medical marijuana, and over half-a-million to date in 2013.



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