In 2019, the state of Colorado will start to bring in more tax revenue from wholesale deals that involve marijuana.
According to a report in the Denver Post, the Colorado Department of Revenue has released updated average market rates for marijuana being sold or transferred from retail cultivation centers to recreational pot shops or facilities that make retail products like hash oil and edibles. These sales and transfers are subject to a 15-percent excise tax.
The rates had been calculated based on transactions tracked by the state’s marijuana enforcement division between August 1st and October 31st and during this time, the average price of a pound of marijuana bud rose to $781, up from $759 during the previous reporting period.