Assuming Anestimated 25% Sales Tax On Retail Marijuana Sales, Karnes Thinks Pro-pot States Collected About $1.6 Billion In Retail Sales Taxes On Cannabis In 2016, Including About $450 Million In States With Recreational Laws In Place.

Assuming anestimated 25% sales tax on retail marijuana sales, Karnes thinks pro-pot states collected about $1.6 billion in retail sales taxes on cannabis in 2016, including about $450 million in states with recreational laws in place. Continue Reading Below ADVERTISEMENT In Colorado, where retail marijuana sales eclipsed $1 billion in 2016, the state collected $16.7 million in sales and excise taxes in February, up 47.3% year over year. The state collected $8.2 million from the 10% retail marijuana special sales tax and $5.5 million from the 15% marijuana excise tax. It also collected an additional $3 million from its 2.9%retail and medical marijuana sales tax. That’s a pretty nice haul for one month — especially if you also include marijuana fees. Including fees, cannabis added $17.7 million to Colorado’s coffers last month. If we annualize that number, it works out to $212 million in calendar year taxes and fees, but it’s likely to come in much higher than that because that figure doesn’t factor in seasonality of sales or additional sales growth. Marijuana state tax revenue is becoming more of a needle-mover in Washington, too. Washington’s taxable marijuana retail sales were $64.2 million last July, and that translated Marijuana Stocks into state sales tax collections of $4.17 million. In December, taxable marijuana sales of $72.6 million resulted in state sales tax collections of $4.72 million. Washington also collects a 37% excise tax on marijuana, and that tax produced $25 million in February.

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