Colorado’s marijuana sales will likely reach $1 billion by the end of 2025, generating almost $200 million in tax revenue, according to a state agency.

“Colorado’s world-class marijuana industry drives out criminals and cartels and is supporting Colorado businesses and jobs while driving revenue for school construction. This important milestone is one that our state can continue to build on,” said Gov. Jared Polis. 

The state collected nearly $20 million in October and more than $105 million in September from marijuana sales, according to the report from the Department of Revenue. November figures will be released in January.

Marijuana tax revenue comes from three sources: A 2.9% state sales tax on marijuana sold in stores, a 15% state retail marijuana tax, and a 15% state retail marijuana excise tax on wholesale sales and transfers of retail marijuana.