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

Lost Lumber Accident Under Investigation

Clay Sheriff Dept 1240

An unknown vehicle left the scene after the accident and has yet to contact law enforcement...

in Local

Nominations Sought for Women of Innovation Awards

tech

Nominations are open through September 14th...

in Local

Clay County Field Fire

fireback

Fire crews out of Fostoria and Spencer were called to a field fire early Thursday evening...

in Local

2nd Okoboji Middle School PPEL Levy Vote This Tuesday

Okoboji Pioneers Logo

In April 782 voted against the 10-year PPEL levy increase of $1.34 per $1,000 of taxable valuation for a 10 year term and 703 voted in favor...

in Local

IRRMA HOF Spectacular Weekend Preview

irrma

Tickets remain available for Sunday's Induction...