Medical and retail marijuana sales fell for the first time since September, while the state’s tax revenue declined for the second straight month, according to the Colorado Department of Revenue’s March report. 

Throughout February, $167 million of product was sold throughout Colorado, which was $20.5 million less than in January. Recreation sales accounted for $134 million in retail sales and $32.4 million from medical marijuana businesses.

Of February’s $167,037,775 total in retail sales, more than $53 million came from Denver County and an additional $14.5 million in Arapahoe County.

To date, in 2021, the state has taken in $354.6 million worth of marijuana retail sales, which is nearly 28% higher than the same time frame in 2020, according to CDR’s report. 

Similarly, the state’s sales tax revenue from retail marijuana is $24.7 million higher in comparison to 2020. Despite the higher tax revenue, it decreased by 3% from February to March.

There are three state taxes associated to retail marijuana with the largest being a 15% retail excise tax. The revenue associated to this particular tax assists mainly schools and local governments. 

Tax revenue has declined throughout the first few months of every new year annually except for 2014. Typically tax revenue begins to increase in April, according to the report.

Similarly, retail sales generally increase during the late spring and summer months and then dwindle beginning in the fall.

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