2010-2011 MEDICAL MARIJUANA SALES TAX REVENUE*
- To date, Colorado medical marijuana businesses have paid approximately $20 million in local, state and federal taxes, and another $9 million in licensing and application fees.
- $2 million annually (beginning 2010) appropriated to the Dept. Human Services for helping those with mental health and substance abuse treatment needs. These funds are critical for programs such as the Circle Program at Pueblo’s Colorado Institute of Mental Health.
|
Filing Period (Month) |
Sales Tax Collected in CO |
|
January ‘10 |
$162,000 |
|
February ‘10 |
$180,000 |
|
March ‘10 |
$362,000 |
|
April ‘10 |
$238,000 |
|
May ‘10 |
$253,000 |
|
June ‘10 |
$440,000 |
|
July ‘10 |
$315,000 |
|
August ‘10 |
$287,000 |
|
September ’10 – December ‘10 |
no data available |
|
Reported Annual Total 2010 |
$2,237,000 |
|
Reported Annual Total 2011 |
$5,000,000 |
JOB CREATION#
- There are approximately 1,800 licensed medical marijuana business and cultivation centers in Colorado. All of these businesses are regulated by both state and local governments.
- It is estimated that roughly 4,200 direct jobs have been created in Colorado through licensed medical marijuana businesses since 2010.
- The impact on ancillary businesses is tremendous: average capital expenditures estimated at $50,000 per medical marijuana business, for a total of over $100 million dollars of capital expenditures statewide.
*Statistics provided by the Colorado Department of Revenue. Additional numbers to be released from the Dept. after June 2012 #Statistics provided by the MMED.