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.

Latest Headlines

in Local

Maine Ends Fiscal Year with Nearly $60 Million Surplus

Updated
MONEY PILE LARGE SIZE

Maine officials say the state ended the fiscal year on June 30 with a surplus of nearly $60 million.

in Local

Maine Court: Anti-Gay Marriage Group Must Disclose Donors

WGAN IMAGE

Maine's highest court has rejected a national anti-gay marriage group's latest effort to shield the donors who backed its effort to repeal Maine's gay marriage law.

in Local

Texas Man Sentenced to 14 Years for Transporting Child Porn

GENERIC COURT LARGE

A federal judge in Maine is ruling that a Texas man will spend 14 years in prison for transporting child pornography.

in Local

Maine Landlord in Fatal Fire Case Due in Court in November

Noyes St Fire

The owner of a Portland, Maine, apartment building where six people died in a fire is due back in court on Nov. 20.

in Local

Nova Star Ferry Gets New Winter Route in Europe

Nova Star Ferry 111213

The Nova Star ferry that transports passengers between Maine and Nova Scotia in the summer and fall has secured a new winter route.

Tweets

  • 25m
  • 1h
  • 1h
  • 2h
  • 2h
  • 2h
  • 2h