Pot accounts: Time for bankers to light up?

In this June 27, 2017, photo, the proprietor of a medical marijuana dispensary prepares his monthly tax payment, over $40,000 in cash. 

Medical and retail marijuana sales fell in August for the second consecutive year, while the state's tax and fee revenue also declined, according to the Colorado Department of Revenue's September report

Prior to last year, marijuana sales throughout the month of August had continuously increased from the previous month since 2014, according to the report. 

Throughout the month of August, $192 million worth marijuana was sold across the Centennial State, which is a decrease of over $9.9 million or nearly 5% from July. Likewise, this August's overall sales were nearly 12% lower than in 2020, according to the report. 

Recreation sales accounted for $157.9 million sales, or more than 80% of all sales, while medical sales accounted for $34.8 million.

Of August's $192,866,097 total in retail sales, about 37% occurred in Adams, Arapahoe and Denver counties. Denver alone reported over $41 million in recreational marijuana sales, according to the report.

Despite the drop in sales in August, the state has reported more than $1.5 billion in total marijuana sales, which is 8% higher than 2020 and 33% higher than 2019, according to the report. 

In conjunction with the decline of total marijuana sales, the state's tax and fees in regard to marijuana also fell from $38.5 million in August to $36.8 in September.

Since recreational marijuana became legal in Colorado in 2014, tax and fee revenue has only declined four times --including this year -- from August to September. 

The full report is available online at revenue.colorado.gov

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