As the new year began and Colorado became the first state to legalize the sale of recreational marijuana, first days numbers are in, and they do not lie! The Colorado, marijuana business, is booming as shop owners have reportedly earned over $1 million in sales, hit the jump for more!
Marijuana lovers living in Colorado have been living the good life since the 2014 ball dropped, as marijuana shops have set up shop and customers have come by the flocks! 24 Marijuana shops opened state wide and are thought to have brought in over $1 million in their first day of sales alone and are expected to bring in a total of $2.34 billion, through recreational and medical marijuana sales by the end of the year. The biggest issue has been the cash only system owners have been limited to, due to banks not being able to work with marijuana businesses legally.
“…with an eighth of an ounce currently selling between $35 and $70 after taxes, the state estimates that the retail marijuana industry will bring in $67 million in tax revenue. The first $40 million generated by the state excise tax is dedicated to school construction, and the rest is slated for marijuana regulation.” HP
**Check out the news clip below**
