After the financials came in for the first month of legal retail sales of recreational marijuana in Colorado, the state enjoyed a tax revenue of over $2 million.

The cannabis taxes come from a 12.9 percent sales tax and a 15 percent excise tax. Voters approved the taxes last year. They said that the first $40 million of the excise tax must go toward school construction; the rest will be spent by state lawmakers.

The tax total reported by the state Revenue Department indicates that $14.02 million worth of recreational pot was sold. The state collected about $2.01 million in taxes.

Article Link: http://www.forbes.com/sites/kellyphillipserb/2014/03/11/its-no-toke-colorado-pulls-in-millions-in-marijuana-tax-revenue/