Pot Put $2M in Colo. Coffers in 1st Month Legal

Legalizing Marijuana Denver
AP

Colorado can now put a number on the tax revenue its newly legal marijuana industry is raking in: About $2 million for the first month of sales. The state's Department of Revenue said Monday that more than $14 million worth of recreational pot was sold, on which the state collected more than $2 million from 12.9 percent sales taxes and 15 percent excise taxes. "The first month of sales for recreational marijuana fell in line with expectations," the department chief said in a news release, though the Denver Post reported the number appeared less than estimates had anticipated. Medical marijuana added another $1.5 million to state coffers. Lobbying for how to spend the money has already intensified, the Associated Press reported. "The whole world wants to belly up to this trough," a Democrat on the state's budget committee said.

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