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

This weekend in entertainment history

beatles

A look back on some of Hollywood's most memorable moments.

in Music

This week’s top country tracks

floridageorgia

LISTEN: This week's top country tracks, according to the latest Billboard chart.

in Music

Taylor Swift ‘Shakes Off’ country image

taylorswift

The "Shake It Off" singer fought with her record label to ditch her country girl image and become a pop star.

in Entertainment

TLC cancels ‘Honey Boo Boo’

honeybooboo

The hit reality TV show is off the air after allegations family matriarch Mama June is dating a convicted sex offender.

in Entertainment

Christian Bale to play Steve Jobs in new biopic

bale

The "Dark Knight" star will portray the late Apple Computer co-founder.