Colorado has now sold over $9 billion in legal marijuana, according to new data from the Colorado Department of Revenue (CDOR).

In September, marijuana tax and fee revenue generated $38,626,414, making for a total of $1.49 Billion in generated revenue since January of 2014.

Colorado's marijuana sales, retail sales, and retail excise taxes all contribute to the tax revenue, while marijuana licensing and application fees contribute to the fee revenue.

Colorado’s Governor and Commissioner of Agriculture have again weighed in on the USDA’s Interim Final Rule related to establishing the nation’s Domestic Hemp Production Program.

The Interim Final Rule has been a controversial document. There was an initial sixty day public comment period between October 31, 2019 and December 30, 2019 and a subsequent extension period between December 31, 2019 and January 29, 2020. Then another extension for public comment kicked off in September. That closed last week, on October 8.

For many who choose to live and work in Northern Colorado’s agricultural communities, there’s more to love than just the picturesque mountains in the distance or the easy accessibility to major metropolitan hubs like Denver and Fort Collins.

The area provides access to ag-based educational opportunities, industry partnerships, and processing facilities that just aren’t available in many parts of the country.

Creating a Knowledge Base

Owner of Hemp Processing Partners Shane Pritchard is opening an industrial hemp collaboration hub and laboratory in Greeley later this year.

While the cannabis industry is currently thriving, there are still 40,000 people in the United States locked behind bars for minor cannabis-related crimes. 

The timeline of cannabis in America is certainly a tumultuous one. From being spiritually and ritualistically used by Native Americans, to being vilified and criminalized by early 1900’s government officials leading to a 75 year prohibition, to an explosive “war on drugs” that had a choke hold on American culture for over two decades, marijuana and its users have been on a seriously wild ride.

The most lenient states permit consumers to purchase almost every CBD type irrespective of its source or intended use.

As of 2018, all 50 states have officially legalized the use of hemp-based CBD products. In the United States, governing officials initially classified CBD, hemp, and marijuana as harmful substances. However, recent medical insight encouraged federal authorities to legalize industrial hemp and CBD on a national level.

For routine CBD consumers, legalization may be good news. Though CBD-based products are manufactured and distributed throughout the United States, you’ll need to remember that each state has set its own rules regarding CBD use.

Colorado cannabis sales set a record yet again in July, eclipsing $200 million in a single month for the first time.

Dispensaries sold $183,106,003 in recreational marijuana and $43,268,565 in medical marijuana in July, for a combined $226,374,568 in revenue, according to data from the Colorado Department of Revenue. That’s up 13.8% from June, another record-setting month when the industry raked in nearly $199 million.