Decline in Colorado recreational marijuana sales

07/11/2014 // West Palm Beach, Florida, US // JusticeNewsFlash // Justice News Flash // (press release)

Colorado – Sales of recreational marijuana in Colorado have slowed for the first time since the legalization of the drug earlier this year. As reported by USA TODAY, the first month-to-month decline was shown in sales from April to May in accordance with recently reported tax collections information from the state Department of Revenue.

Recreational pot sales for May were shown to be an estimated $21 million, which was a drop from the $22 million shown in sales the previous month.

As noted in the report, marijuana for recreational use is taxed at a higher rate than that used for medicinal purposes, which is only subjected to sales taxes at the state and local level.

The report further notes that state regulators estimate that the annual demand for recreational and medical marijuana is 130 metric tons combined.

This report is provided by Justice News Flash – Colorado Legal News

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