News

Colorado sees ‘pot’ of gold in marijuana sales

Colorado sees ‘pot’ of gold in marijuana sales

HIGH PROFITS: Colorado is raking in the dough from pot sales. Photo: Associated Press

DENVER (AP) — In the world’s first accounting of a recreational pot industry, Colorado officials say the state has made roughly $2 million in marijuana taxes in January, the first month of sales.

The tax total reported Monday by the state Department of Revenue indicates $14.02 million worth of recreational pot was sold. The state collected roughly $2.01 million in taxes.

The state legalized pot in 2012, but the commercial sale of marijuana didn’t begin until January.

Washington state sales begin in the coming months.

The taxes come from 12.9 percent sales taxes and 15 percent excise taxes. Voters approved the pot taxes last year. The first $40 million of the excise tax must go to school construction.

Colorado has about 160 state-licensed recreational marijuana stores, though not all were open in January.

Recent Headlines

in Entertainment

Today in entertainment history: July 30

elvis

The Hollywood headlines that made history.

in Music

At $90 million, Garth Brooks tops country earners

garth

Brooks, 53, who resumed touring last year after 13 years off the road, also notched up the biggest pay day in a single year.

in Entertainment

REVIEW: ‘Vacation’ is a fun road trip for a new generation

18-overlay7

Rating: R | Run time: 99 min. | Genre: Comedy | Starring: Ed Helms, Christina Applegate, Skyler Gisondo, Steele Stebbins…

in Music

Eric Church exhibit headed to Country Hall of Fame

12-overlay10

Visitors to Nashville's Country Music Hall of Fame and Museum will soon be able to walk through the life and career of Eric Church.

in Music

Miranda Lambert launches scholarship fund for women

mirandalambert

The country superstar is establishing a new scholarship at Nashville's Belmont University to help women pursue jobs in the entertainment industry.