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

3 days ago in Sports

The weekend sports schedule

penscaps16120076416963

Here’s a look at some of the sporting events taking place this weekend.

3 days ago in Sports

The best sports shots this week

goffdraft870850982276

A look at some of the biggest plays and best moments in sports this week.

3 days ago in National

Making headlines this week

kansasweatherAP

A look back at some of the biggest newsmakers this week and the headlines you may have missed.

3 days ago in Sports

Reigning NL batting champ banned 80 games for doping

marlinsdeeREUTERS

Dee Gordon of the Miami Marlins was suspended 80 games without pay after testing positive for a performance-enhancing substance, Major League Baseball said.

3 days ago in National

Teen pregnancies hit historic low

sexed296416402183

The annual survey shows the continuation of a downward trend that began in 2006 and continued through 2014, the latest year of complete data, when nearly 250,000 babies were born to girls and women aged 15 to 19.