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 Sports

This week’s top sports shots

Fresh
AP491836413688

A look at some of the biggest hits and best scores this week in sports.

in Entertainment

Coming soon: The Mustache Hall of Fame

Fresh
burtreynolds

There are halls of fame for everything from baseball to rock 'n' roll, so why not those with a hairy upper lip?

in Music

Pink Floyd warns album ‘not for iTunes generation’

Fresh
pinkfloyd

David Gilmour has warned the band's younger fans they might not enjoy the upcoming album.

in Sports

This weekend’s sports schedule

mississippi

A complete look at this weekend's sports schedule.

in Entertainment

Inspiration for ‘Harry Potter’ nemesis revealed

harrypotter

J.K. Rowling says the much-hated character Dolores Umbridge is based on a teacher to whom she took an instant dislike.