Colorado officials report roughly $2M in recreational pot taxes in January, 1st month of sales | iNFOnews | Thompson-Okanagan's News Source

Current Conditions

Cloudy
3.4°C

Colorado officials report roughly $2M in recreational pot taxes in January, 1st month of sales

In this Jan. 1, 2014, file photo, employees Chris Broussard, left, and David Marlow, work behind sales counter inside Medicine Man marijuana retail store, which opened as a legal recreational retail outlet in Denver. Colorado made roughly $2 million in marijuana taxes in January, state revenue officials reported Monday, March 10, 2014, in the world's first accounting of the recreational pot business. (AP Photo/Brennan Linsley, File)
March 10, 2014 - 2:24 PM

DENVER - 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 per cent sales taxes and 15 per cent 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.

News from © The Associated Press, 2014
The Associated Press

  • Popular penticton News
View Site in: Desktop | Mobile