Colorado Marijuana Sales Rises Slightly In Second Month

Sales of recreational marijuana rose slightly in Colorado in the second month of retail sales, according to state tax estimates released Tuesday.

But the modest growth left state lawmakers cautious on spending the pot tax money just yet.

An estimate from the Colorado Department of Revenue showed that Colorado made some $4.1 million from medical and recreational pot taxes and fees in February. That’s up from about $3.5 million in January, when retail sales began.

But much of the increase came from fees collected from medical marijuana businesses, not additional sales.

The sales taxes on recreational pot edged up just slightly, about $30,000. The February collection, from about $1.4 million to about $1.43 million, suggested the recreational pot market didn’t grow much despite the opening of additional pot shops.

In January, Colorado collected taxes from 59 recreational marijuana businesses. That number went up to 83 businesses by the end of February, a number tax analysts said grew to about 190 by the end of March. March tax returns aren’t due yet and won’t be reported until May.

Colorado lawmakers who write budget measures started work on the pot tax figures Tuesday. Lawmakers from both parties said they’re anxious about spending the pot taxes until they have more months of tax reports.

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