Do January marijuana sales forecast a promising year for Grand’s pot shops?
January fell just a few thousand dollars short of the highest revenue month for marijuana sales in Grand County through 2020.
Last month the county saw $117,140 in recreational marijuana sales tax revenue. In 2020, the highest month for pot sales was August with $122,914.
Compared to the same month last year, January saw an increase of more than $30,000 in the marijuana sales tax. All but two months in 2020, April and May, saw heightened marijuana sales.
The early increase could be a promising sign for the county, where the season tends to affect marijuana sales more than anything else.
In 2020, January was an average month for Grand. If that trend continues in 2021, then monthly sales tax topping $100,000 could be a regular occurrence for the county.
Marijuana sales typically do well in the winter before spiking in March and April. The pandemic and ensuing shutdown meant that marijuana sales saw a dip in April last year.
However, from August to October is when the county sees its highest sales for the year, and marijuana sales in the county have been increasing annually.
In 2020, annual marijuana sales tax hit over $1 million, equal to a $124,000 increase over 2019. Notably, January’s sales tax revenue was greater than it was for any month in 2019.
Statewide, January marijuana tax and fee revenue totaled $35 million.
In 2020, Colorado saw $2.2 billion in total marijuana sales. Since 2014, state marijuana sales have reached nearly $10 billion to date with $1.6 billion being tax revenue.
Of the sales tax revenue, 90% goes to the state with the rest distributed to local governments.
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