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.

Local Headlines

in Local

Aronia Berry Farm Tour

spencercityseal

The first leg of the Missouri to the Mississippi Recipe Relay is coming to Spencer...

in Local

Rockwell City Teen Missing

Police

A 16-year-old from Rockwell City has been missing for a few days...

in Local

Sanborn In Need Of Ambulance Volunteers

ambulance

Anyone interested in volunteering can get in touch with Sanborn City Hall...

in Local

Farmers Coop Society Smoldering Corn

corn

The Coop is currently in the process of moving approximately 2.5 million bushels of corn...

in Local

Accident Sends Three To Hospital

ambulance

Three were taken to the hospital after a four vehicle accident near Royal...