First Pot Tax Figures Reported in Colorado

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from FoxBusiness,

The first pot tax numbers are in for Colorado – and they’re high.

The local shops licensed to sell recreational marijuana in Colorado’s Pueblo County rang nearly $1 million in sales in January, according to the county. And Pueblo County alone is due more than $55,000 in marijuana sales tax for the month, while the state of Colorado will claim $80,000 in taxes.

“During January, we took a million dollars out of the black market, while generating $55,000 in tax revenue for our local community,” said Pueblo County Commissioner Sal Pace. “We recognize that the eyes of the world are watching us and we are proud to have erected a robust regulatory environment in Pueblo County.”

Pueblo County Clerk Gilbert “Bo” Ortiz says the tax revenue from marijuana is greatly appreciated by county officials.

“The county will be using it for a number of issues. Our revenue isn’t exceeding expenditures, so hopefully it will go to shore up the challenges,” says Ortiz.

The state has pledged its share toward the public school system.

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