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Home 🌿 Recreational Marijuana News 🌿 Colorado pot taxes: Recreational sales for January 2015 strongest yet 🌿Colorado pot taxes: Recreational sales for January 2015 strongest yet
Colorado pot businesses sold a record amount of marijuana in January, resulting in an excise tax of $2.3 million designated for public schools, state officials said Wednesday.
The numbers, reported by the Colorado Department of Revenue, show that January’s school-designated pot excise tax is more than 10 times the amount in January 2014, when the state first collected the tax on wholesale marijuana transfers.
From December to January, the school tax sum jumped about 21 percent, from $1.9 million to $2.3 million. In January 2014, the state collected $195,318 in taxes allotted for school construction capital.
In total, the amount of taxes, licenses and fees stemming from medical and recreational marijuana sales amounts to $8.8 million this January.
Last year — the first year of legal recreational pot sales — Colorado pot businesses sold nearly $700 million of marijuana. That amounted to $385.9 million for medical marijuana and $313.2 million for recreational cannabis.
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