A county in southern Colorado became the first to report its January pot tax income Monday, nearly two months after the sale of recreational marijuana became legal in the state.
Authorities in Pueblo County said that its two marijuana shops saw about $1 million in total sales in January, and produced $56,000 in local sales tax, the Associated Press reports. Pueblo County Clerk Gilbert “Bo” Ortiz projected that the county will generate about $670,000 in new tax revenue from the marijuana industry this year.
The county’s total budget is about $165 million per year.
Colorado is expecting to take in a total of $133 million from taxes on weed-related sales for the 2014-2015 fiscal year from its more than 160 recreational pot stores across the state. The vast majority of pot vendors are concentrated around Denver, which has not yet released its tax numbers.
[AP]
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