Colorado moves over $14M worth of marijuana in one month to net state $2M in taxes

Chris Broussar (left) and David Marlow inside Medicine Man marijuana retail store.

Colorado made roughly $2 million in marijuana taxes in January, state revenue officials reported Monday in the world’s first accounting of the recreational pot business.

The tax total reported by the state Department of Revenue indicates $14.02 million worth of recreational pot was sold.

The state collected roughly $2.01 million in taxes.

The pot taxes come from 12.9 percent sales taxes and 15 percent excise taxes. Voters approved the pot taxes last year. They declared that the first $40 million of the excise tax must go to school construction; the rest will be spent by state lawmakers.