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 Entertainment

Today in entertainment history: Sept. 4

Comedian Joan Rivers arrives for the premiere of the documentary "Joan Rivers - A Piece Of Work" during the 2010 Sundance Film Festival in Park City, Utah January 25, 2010.

A walk down Hollywood's memory lane.

in Entertainment

Chris Evans makes ‘Marvel’-ous directoral debut

17-overlay6

The "Before We Go" director talks about pulling his film together and how being in the Marvel world makes it easier to get movies off the ground.

in Entertainment

Love Hulu but hate the ads?

hulu

Hulu is rolling out an ad-free version of its subscription service.

in Entertainment

Cate Blanchett to play Lucille Ball in new biopic

cateblanchett

The movie will chronicle the entertainer's 20-year marriage to Desi Arnaz, her "I Love Lucy" co-star.