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Colorado Cannabis Tax Revenue has Seen Biggest Drop in History!

Viewed 35 times9-12-2022 04:56 PM |Personal category:Business| THC gummies, Tax Revenue

Colorado is well known for its cannabis industry. In fact, it's so big that the state has more jobs in the marijuana business than it does in construction and mining combined.

The Colorado cannabis industry is currently worth $2.7 billion and employs more than 23,000 people. That's a lot of jobs!

But what do those 23,000 people actually do? Well, they're working in everything from cultivation to retail sales and everything in between. The average wage for a job in the cannabis industry is about $15 per hour—which isn't bad when you consider that it's not easy work. If you've ever been to a dispensary or grow operation, you know there are some pretty strict regulations on how this stuff gets grown and processed.

And yet despite all of those regulations and all of those rules, people are still flocking to Colorado to get involved with legal marijuana sales or cultivation because they know there's money to be made if you're willing to put in some time and effort into understanding how this whole thing works.

Why is cannabis so popular in Colorado?

Colorado has long been a place where people go to find their own paths and live out their dreams.

Many of the state's residents have been drawn here by its natural beauty, which includes everything from majestic mountains to vast plains and pristine lakes. But there's something else that drives people to Colorado: cannabis.

Cannabis is now legal in Colorado and has been since 2012. That year, voters passed Amendment 64, making it legal for adults 21 years old or older to possess and grow limited amounts of marijuana for personal use. The state also allows medical marijuana dispensaries, which are regulated by the Marijuana Enforcement Division (MED). The MED regulates both recreational and medical marijuana businesses, as well as issues licenses for those businesses.

Today, there are more than 1,000 licensed recreational marijuana stores in Colorado alone—and there are even more dispensaries throughout the state that aren't licensed but still provide medical marijuana products to customers who need them.

So why is cannabis so popular in Colorado? Well, one reason might be because our beautiful state has always attracted people who want to live life on their own terms—and now those people can do just that with legal access to cannabis!

The most popular THC products in Colorado

THC gummies are the most popular THC products in Colorado.

The market for marijuana has been growing steadily over the past few years. As a result, there have been many new products introduced to consumers that are better than ever before. One of these products is THC gummies, which can be found in every dispensary in Colorado.

These edible candies are made by taking cannabis plants and extracting their active ingredients. This process is called extraction, and it can be done using various methods depending on the type of product being produced. For example, one method involves using solvents such as alcohol or butane to extract cannabinoids from cannabis plants; another method uses carbon dioxide gas under high pressure to extract oils from plant material. Once the extraction process has been completed, the resulting substance is called hash oil or concentrate; this substance can then be used to make edibles like THC gummies!

THC gummies are easy to make at home because they only require a few ingredients: sugar (or another sweetener), water (or milk), gelatin powder (or other binding agent), food coloring (optional), and THC concentrate (also known as hash oil). The only trick is finding a reliable source for dank gummies. We recommend TRĒ House for that!

Cannabis tax revenue in CO is plummeting

Colorado cannabis tax revenue has seen its biggest drop in history.

According to the state’s Department of Revenue, the state only collected $17 million in cannabis sales taxes during the first quarter of this year—a whopping 24% decline from last year. That’s a lot of money! And it's going somewhere else.

But don't worry: Colorado is still pretty much rolling in dough from marijuana sales. The state still made $88 million from recreational and medical marijuana taxes during Q1, which is actually up 3% from the same period last year. Even if you take out all the taxes they collected on non-cannabis products (like edibles) and just look at marijuana sales themselves, it's still a healthy increase: $44 million compared to $37 million last year.

So why the big drop? Well, as we all know by now, weed is legal pretty much everywhere now—and it's cheaper than ever before. So people are buying more often. And since Colorado doesn't have any sort of tax cap or limit on how much consumers can purchase per day (unlike other states), they're paying less per-unit than ever before too! Plus there are now more stores open than ever before in Colorado.

More states are starting to legalize recreational cannabis

We're all for the legalization of recreational cannabis.

In fact, we're so into it that we wanted to take a moment and reflect on how far we've come as a nation in terms of legalizing cannabis—and how far we still have to go. Some of you may be familiar with the fact that cannabis is legal in some states already and will soon be legal in more. But did you know that there are still places where you can get arrested for having a joint? It's true!

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