Colorado Collects $2M in Recreational Pot Taxes In January, 1st Month of Sales.

In what has been deemed “the first recreational accounting for recreational pot”, Colorado has reportedly collected $2M from taxes of a $14.02M gain.

“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.” –  US News