Officials say the state of Colorado made at least $2 million in taxes from recreational marijuana sales during the month of January.
According to the Associated Press, the state Department of Revenue revealed that just over $14 million worth of recreational marijuana was sold during that period, yielding $2 million in taxes. There's a 12.9 percent sales tax on recreational weed, as well as a 15 percent excise tax.
When you add taxes and licenses fees from the state's medical marijuana industry, Colorado pulled in a total $3.5 million during the year's opening month.
The Associated Press adds that these figures are about what was expected, and now the focus will shift to how the state should spend this money. Gov. John Hickenlooper shared a $134 million spending proposal, which includes additional advertising about the dangers of driving while high and anti-drug messages for children. State police chiefs would also appreciate a little bit more compensation.
A financial breakdown revealed that most of the sales took place in Denver County, which is the central location for the state's marijuana industry. What's even more impressive is that this marijuana revenue came from less than 60 stores across the state.
[via Associated Press]
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