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 National, World

Israel intensifies Gaza assault, Egyptians revise truce plan

A Palestinian firefighter reacts as he tries to put out a fire at Gaza's main power plant, which witnesses said was hit in Israeli shelling, in the central Gaza Strip July 29, 2014.

Israel knocked out Gaza's only power plant, while Egyptian mediators prepared a revised proposal for halting its war with Islamist militants in the enclave.

in Sports

Star sprinter Torrin Lawrence dies at 25

FILE - In this June 20, 2013 file photo, Torrin Lawrence reacts after his heat in the senior men's 400-meter dash at the U.S. Championships athletics meet in Des Moines, Iowa. Former University of Georgia 400-meter runner Torrin Lawrence died in a car accident early Monday, July 28, 2014 in Cordele, Ga. He was 25.

Celebrated track star Torrin Lawrence has been killed in a tragic road accident in Georgia.

in National

U.S. marshals, police wounded, fugitive dead in NYC gunfight

A New York Police Officer stands guard inside a cordoned area at the site of a shooting in Greenwich Village, Manhattan, New York on July 28, 2014.

Two U.S. marshals and a New York police detective were wounded and a fugitive wanted on sex abuse charges was killed in a shootout in Greenwich Village.

in National, World

U.S says Russia violated nuclear treaty, urges immediate talks

FOR USE AS DESIRED, YEAR END PHOTOS - FILE - President Barack Obama meets with Russian President Vladimir Putin in Enniskillen, Northern Ireland, Monday, June 17, 2013. Obama and Putin discussed the ongoing conflict in Syria during their bilateral meeting.

In another sign of deteriorating relations, the U.S. government claims that Moscow has violated the Cold War treaty.

in National, World

Civilians killed in eastern Ukraine amid fierce fighting

Armed pro-Russian separatists stand guard on the suburbs of Shakhtarsk, Donetsk region on July 28, 2014.

Intense fighting between Ukrainian troops and pro-Russian rebels in eastern Ukraine kills at least 19 civilians.