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 Stories

in Albemarle County, Charlottesville City, Local, Local Sports, Sports, Surrounding Counties, UVA, UVA Sports

Wahoo Women Lose to Georgia Tech, 68-62

uva basketball jpj john paul jones

The Virginia women's basketball team fell 68-62 to Georgia Tech on Sunday afternoon.

in Entertainment

This weekend in entertainment history

In this film publicity image released by 20th Century Fox, the character Neytiri, voiced by Zoe Saldana, left, and the character Jake, voiced by Sam Worthington are shown in a scene from, "Avatar." The film was nominated Tuesday, Feb. 2, 2010 for an Oscar for best picture. The 82nd Academy Awards will be presented on March 7.

A look back on some of Hollywood's most notable headlines.