The city of Colorado Springs is on pace to collect more than $500,000 in sales tax revenue from the medical marijuana industry by the end of the year.
The October sales of medical marijuana and marijuana-infused products generated $56,782 in sales tax revenue for the city, according to figures released today by the city’s Sales Tax Department.
To date, the city has collected $436,330 in sales tax revenue from medical marijuana.
The city has been collecting more than $50,000 in sales tax revenue from the medical marijuana industry for the past five consecutive months.
Talk about a growth industry.
The city collected $73,504 total in sales tax revenue from pot in all of 2009.