International Cannabis Business Conference

January Tax Haul in Colorado Less Than Projected

A total of $2,012,008 in marijuana excise taxes and sales tax was paid in Colorado in January, the first month of legal sales.

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
Total: $2,012,008

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.

Steve Bloom

Steve Bloom

Publisher of CelebStoner.com, editor-in-chief of Freedom Leaf, co-author of Pot Culture and Reefer Movie Madness, and the former editor of High Times.