How Much Does Medical Marijuana Cost in Colorado?

How Much Does Medical Marijuana Cost in Colorado?

The price of medical marijuana varies in Colorado dispensaries. Marijuana dispensaries set their prices based on factors like location, cannabis strain, and weed quality. The average price of 1 ounce of high quality marijuana in Colorado is $242, while 1 ounce of medium quality marijuana costs $200. In 2023, 1 joint (0.66 grams) of high quality weed cost $5.63 in the state.

Can You Use a Credit Card at a Dispensary in Colorado?

No. Licensed retail dispensaries in Colorado do not accept credit cards for the purchase of marijuana because banks and credit card companies do not permit marijuana-related transactions. The acceptable methods of payment are cash and debit cards.

Does Colorado Tax Medical Marijuana Sales?

Medical marijuana purchases are subjected to 2.9% state sales tax in Colorado. Municipalities, such as counties and cities, may also impose local sales and use taxes on medical marijuana purchases. For example, cities like Denver and Federal Heights imposed sales tax of 4.31% and 4% respectively on medical marijuana and medical marijuana products. Note that a medical marijuana purchase may be exempted from the sales tax if the patient’s card indicates their tax-exempt status.

Does Recreational Marijuana Cost More than Medical Marijuana in Colorado?

Recreational marijuana is subject to a 15% excise tax as well as 15% sales tax in Colorado. In addition, local jurisdictions may impose special sales taxes on retail marijuana. Hence, retail marijuana costs more than medical cannabis to end users in the state.

How to Save Money on the Cost of Medical Marijuana in Colorado

Colorado does not have a program that offers lower medical marijuana prices to certain groups like veterans, indigents, and seniors. However, medical marijuana dispensaries offer various discounts and sales at different times of the year and encourage patients to join their loyalty programs. Furthermore, medical marijuana patients can do the following to save money at dispensaries:

• Buying in bulk: users can pay less per ounce if they buy their weekly or monthly supplies up to the maximum allowable amount of medical marijuana in the state
• Growing their own marijuana: Colorado allows a patient to grow up to 6 plants. There is a maximum of 12 plants allowed for households with two or more adults
• Using the lowest effective dose: this can help them reduce the amount of medical cannabis they need to buy

Medical marijuana patients may also try other cannabis forms, such as edibles and tinctures. Edibles can be divided into smaller portions to make purchases last longer. Also, patients can choose to compare prices of products by shopping at different dispensaries. Doing this will help them find their preferred medical marijuana products at the lowest prices possible.