Colorado makes millions in pot taxes
March 11 , 2014
Colorado made about $2M in marijuana taxes, which state revenue officials mentioned is the first accounting for a recreational pot business. Reports indicate that a total of $14.2M worth of pot was sold.
Marijuana was legalized in the region in 2012 but commercial sale began only in January. Voters declared that the first $40M of the tax would go toward school construction and the rest would be used by state lawmakers.
The industry is expected to be volatile for a few years so lawmakers are nervous about the way they're going to spend the money.