Colorado Falls Short of Projected Marijuana Sales

Townhall.com Staff
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Posted: Mar 11, 2014 9:22 AM

The bullish predictions about the revenue Colorado would accumulate from sales of recreational marijuana may have been quite premature. In February, Governor John Hickenlooper’s budget office estimated that recreational pot shop sales added to medicinal marijuana sales would approach $1 billion in the fiscal year beginning in July. But in January of 2014, Colorado only brought in $2 million from recreational pot shop sales, far short of what would lead to a successful prognosis from Hickenlooper’s budget office. When the sum from recreational pot sales was combined with taxes and fees from medicinal marijuana in January, the total was still only $3.5 million. At the end of last year, the Legislative Council of the Colorado General Assembly projected a total of $578.1 million a year in combined wholesale and retail marijuana sales.