The numbers were not as high as expected, but are still well in the black, as Colorado announced the revenues raised from its first month of legal recreational marijuana sales.
According to data released Monday by the state’s Department of Revenue, Colorado brought in more than $2 million in taxes on sales from recreational cannabis in January. That number includes over $1.4 million from a 10 percent retail marijuana state tax, plus nearly $417,000 collected as part of the state’s regular 2.9 percent sales tax. Roughly $195,000 was collected for the month through a 15 percent retail marijuana excise tax, with the proceeds going toward the construction of public schools in the state.
Total taxes, licenses and fees for January for sales of both medicinal and recreational marijuana in Colorado came to over $3.5 million.
Read more: Cannabis a multi-million-dollar tax windfall for Colorado | CBS News
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