Colorado collected more money through marijuana tax and revenue than ever before in 2021, shattering the previous record by nearly 10%, according to the Colorado Department of Revenue.

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During the year, the state collected over $423 million through medical and retail marijuana sales. This is over $36 million more than the previous record set in 2020, according to the report. 

Tax revenue is collected through multiple sales taxes – 2.9% for medical and 15% for recreational – and a 15% excise tax on wholesale sales and transfers of retail marijuana. Fee revenue comes from marijuana license and application fees.

The state has collected more than $2 billion in tax and revenue fees since retail marijuana sales began in 2014.

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The report also stated that marijuana sales from January through November of 2021 were up compared to the previous year. Through November, $2.06 billion worth of medical and recreation marijuana was sold throughout the state, which is nearly 3% higher than 2020. 

Officials said last year’s final marijuana sales figures will be released in February.