<\/a>The US state of Colorado collected $2m (\u00a31.2m) in taxes from newly legalised recreational marijuana businesses in January.<\/p>\nColorado became the first US state to legalize the commercial sale of cannabis in 2012, and stores opened for business on 1 January 2014.<\/p>\n
In total, 59 marijuana firms filed tax returns on an estimated $14m in sales.<\/p>\n
Overall, the state collected a total of $3.5m in marijuana taxes if medical marijuana firms are included.<\/p>\n
Marijuana model?<\/p>\n
The money is earmarked for youth prevention services, substance abuse treatment, and public health, according to a plan proposed by Colorado Governor, John Hickenlooper.<\/p>\n
Many other US states are closely watching Colorado’s figures.<\/p>\n
Washington state is set to introduce legal sales later this year.<\/p>\n
Most of Colorado’s tax revenues came from firms around the city of Denver.<\/p>\n
Recently, US President Barack Obama said marijuana was no more dangerous than alcohol, while cautioning both were bad decisions.<\/p>\n
Nonetheless, he has instructed the Department of Justice to halt prosecutions of banks that do business with cannabis firms.<\/p>\n
Currently, 20 US states, as well as Washington, DC, allow for the sale of medical marijuana.<\/p>\n
<\/p>\n
Source: BBC<\/p>\n","protected":false},"excerpt":{"rendered":"
The US state of Colorado collected $2m (\u00a31.2m) in taxes from newly legalised recreational marijuana businesses in January. Colorado became the first US state to legalize the commercial sale of cannabis in 2012, and stores opened for business on 1 January 2014. In total, 59 marijuana firms filed tax returns on an estimated $14m in […]<\/p>\n","protected":false},"author":14,"featured_media":5312,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[],"tags":[14],"yoast_head":"\n
Colorado collects $2m in marijuana taxes in January - Citi 97.3 FM - Relevant Radio. Always<\/title>\n \n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n \n \n \n \n \n\t \n\t \n\t \n