Marijuana Tax Revenue Fell Nearly 24 Percent in 2022

Marijuana prices and sales plummeted in 2022, and so did the state's tax haul, according to new figures from the Colorado Department of Revenue.

The year-plus industry recession has led to a burst of, with two large dispensary chains closing their doors over six-figure tax bills and several more agreeing to acquisition offers from out-of-state corporations.

Public education in Colorado receives marijuana tax revenue through the state’s Building Excellent Schools Today fund — a matching grant program — and the Marijuana Tax Cash Fund. Local governments can distribute their own marijuana tax revenue to schools, as well. The BEST fund annually receives either $40 million or 90 percent of the state’s 15 percent wholesale and excise tax revenue on recreational pot sales, whichever is greater.

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