Colorado rakes in $2 million from January’s marijuana sales

Question of the Day

Is it still considered bad form to talk politics during a social gathering?

View results

Colorado raked in about $2 million from taxes on recreational marijuana in just the first month since becoming legal in the state.

The tax total reported by the state Revenue Department indicates that $14.02 million worth of recreational marijuana was sold. The state collected about $2.01 million in taxes, the Associated Press reported.

State officials say the numbers were in line with what was expected.

Colorado became the first state to permit the sale of recreational pot to anyone age 21 or older. Sales began Jan. 1.

Colorado voters approved last year a 15 percent excise tax, a 10 percent special sales tax and a 2.9 percent sales tax on recreational pot. They said that the first $40 million of the excise tax must go toward school construction; the rest will be spent by state lawmakers, the AP said.

© Copyright 2014 The Washington Times, LLC. Click here for reprint permission.

Comments
blog comments powered by Disqus
TWT Video Picks