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 Music

Dwight Yoakam producing music-centered comedy series


"Belles and Whistles" will follow the fortunes of an ambitious dad who moves his dysfunctional family to Nashville to pursue his lifelong dream of becoming a country singer.

in Entertainment

‘Ant-Man’ sequel and three more Marvel movies are coming


The superhero universe will add three more as of yet unnamed movies by 2020.

in Entertainment

Carlton says there won’t be a ‘Fresh Prince’ reboot


Alfonso Ribeiro is adamant there will never be a TV reboot of "The Fresh Prince of Bel-Air," because no one can take the place of their "cornerstone" James Avery.

in Music

From mezcal to music, Toby Keith keeps expanding his empire


The country star doesn't just want his fans to listen to his music.

in Entertainment

‘Netflix and chill’ is going to cost you a little more


The price increase only affects new customers to the company's "standard" plan, which allows two viewers use a subscription at once.