Colorado Made $3.5M From Pot

The grass is greener in Colorado. According to figures released Monday by the Department of Revenue, the state collected more than $3.5 million in taxes and fees from marijuana sales in January, when it was legalized. More than $2 million came from recreational pot, the rest from medicinal marijuana. Fifty-nine businesses filed a tax return for recreational pot in January, but by mid-February Colorado had 163 retail stores. Voters had approved a 15 percent excise tax on producers and a 10 percent special sales tax on consumers. Gov. John Hickenlooper predicted that total pot sales would reach $610 million next fiscal year, and that revenue from taxes and fees would reach $98 million—above earlier estimates of $70 million.