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 Trending, Viral Videos

TODAY’S MUST SEE: Queen’s guards play ‘Thrones’ theme

queens

During the changing of the royal guards at Buckingham Palace the crowd is surprised with a little musical entertainment.

in Music

CHART TOPPERS: This week’s top alternative tracks

samsmith

LISTEN: This week's top alt tracks, according to the latest Billboard chart.

in Music

Jimi Hendrix’s early session recordings to get long-awaited release

In this undated photo, Jimi Hendrix performs with a Fender Stratocaster electric guitar. The Stratocaster, used by countless professional and amateur musicians, celebrates its 60th anniversary in 2014.

Jimi Hendrix's early recordings as a member of Curtis Knight and the Squires is set for a proper release after years of legal roadblocks.

in Viral Videos

Jon Stewart, Stephen Colbert battle to be the biggest ‘Star Wars’ fan

Colbert Stewart Star Wars

Jon Stewart and Stephen Colbert jump at the chance to prove they're the world's biggest Star Wars fans and win a chance to be in "Episode VII."

in Viral Videos

Selfies Anonymous

Selfie Anonymous

It's good to know that there's a 12-step program for people with selfie addiction.