The $2 million collected in taxes from $14 million of retail marijuana sales in Colorado in January is well below the state's expectations.
The governor's office has projected sales of $32 million per month, or $380 million for 2014. At this rate, the figure would be $168 million (44% less than projected).
The taxes paid by 59 licensed marijuana businesses in January are as follows:
Special 10% excise sales tax: $1.4 million
State's standard 2.9% sales tax: $416,690
Marijuana business excise tax: $195,318
Of course, these figures are going to rise significantly once more stores are open and more product is available. A total of 167 marijuana-related businesses have received licenses to operate.
Another $913,519 in sales taxes was paid by medical marijuana dispensaries in January.