Video: Colorado Raises $2M in First Month of Marijuana Taxes

The first tax figures for the first state in the nation to legalize retail marijuana shows the drug brought in $3.5 million in taxes and fees for Colorado in January

March 10, 2014

VIDEO: Colorado Raises $2M in First Month of Marijuana Taxes

The first tax figures for the first state in the nation to legalize retail marijuana shows the drug brought in $3.5 million in taxes and fees for Colorado in January, reports KUSA-TV.

Of that, $2.1 million came from recreational marijuana and the remaining $1.4 million from medical marijuana.

The report provides the first concrete proof of what pro-marijuana advocates had promised, that growing and selling the drug locally would generate economic activity here rather than sending drug money out-of-state, and that the drug could provide a windfall to the state government.

The governor's proposal also includes $5 million for law enforcement and regulatory oversight, though police agencies in Colorado say they'd like to see more funding to offset the extra workload of enforcing the state's marijuana laws.

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