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.

Latest Headlines

in Entertainment

It’s been 30 years since ‘The Cosby Show’ debuted

cosby

Here are some of our favorite moments from one of America's favorite TV families.

in Music

New Queen album features Michael Jackson collaboration

25-overlay3

The track features vocals from late Queen frontman Freddie Mercury and the King of Pop.

in Music

WATCH: Dan Rather interviews Jack White

14-overlay

Sitting down with legendary newsman Dan Rather, the rocker talks about everything from music to being misunderstood.

in Lifestyle

Being a couch potato could cause depression

tv

A new analysis ties too much sitting at the computer or lying around watching TV to a greater risk of depression.

in Entertainment

Jennifer Garner’s life ‘too boring’ for Instagram

jennifer

The "Dallas Buyers Club" actress is adamant she won't join her husband, actor Ben Affleck, on Twitter either.