Business

Colorado's legal marijuana sales hit $5 million so far in 2014

Colorful Colorado is the home of breathtaking vistas and panoramas, Rocky Mountain skies, and legalized (but recreational) marijuana. - Wikimedia Commons
Colorful Colorado is the home of breathtaking vistas and panoramas, Rocky Mountain skies, and legalized (but recreational) marijuana.
— image credit: Wikimedia Commons

Call it a green party. With two meanings.

Or just call it a Rocky Mountain high.

(Receational) marijuana became legal in Colorado on January 1, 2014, and the American state's dispensaries have already reported sales totalling $5 million USD.

Those numbers were reported by The Huffington Post's Matt Ferner on Wednesday morning, based on figures from 37 new dispensaries in the Centennial State.

"Every day that we've been in business since Jan. 1 has been better than my best day of business ever," said Andy Williams, owner of the Medicine Man dispensary in Denver.

By January 3, the city's 9news TV network had reported collective sales of $1 million, two days into Denver's new era.

The station also quoted Colorado's Department of Revenue, Barbara Brohl, who said, "Everything's gone pretty smoothly."

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CNN – "10 things to know about nation's first recreational marijuana shops in Colorado" (Jan. 1, 2014)

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Under Colorado's new laws, recreational marijuana sales are legal to adults aged 21-plus. Colorado has projected $600 million in annual revenue and $70 million tax revenue for 2014.

Reports say marijuana was selling for $65 for an eighth of an ounce, marked up by a 25 per cent retail tax, 1.5 per cent excise tax, and 10 per cent sales tax.

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