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

Grand jury to weigh case against Stewart in fatal crash

stewart

The case of a fatal dirt-track accident involving the three-time NASCAR champion will be heard by a grand jury.

in National

UPS hiring 95K temp workers for holiday season

ups

UPS is almost doubling the number of seasonal employees for this year's holiday shopping season.

in National, World

Obama to deploy troops as Ebola crisis worsens

ebola

The U.S. announced a ramped-up plan to help tackle the Ebola outbreak, including a major deployment in Liberia.

in Sports

Tuesday’s Sports Minute

griffin

In addition to the latest on the Adrian Peterson case and the Eagles comeback over the Colts, here is a…

in National

FCC sees record feedback on ‘net neutrality’

net

The FCC has received a record number of comments from consumers and lawmakers on proposed new Internet traffic rules.