Pueblo County sees thousands in green from pot sales
Updated On: Jan 03 2014 12:35:26 PM CST
Customers purchased $87,000 worth of marijuana in Pueblo County the first day of legal recreational sales.
Pueblo County Commissioner Sal Pace said on Jan. 1 the county collected $5,200 in local marijuana taxes. He said, "That is roughly what we've been receiving per month in medical marijuana."
Pace said it's money that could be used to open the new judicial building sooner. The tax revenue is being brought in from Coloradans and out-of-staters alike.
Hank Borunda, owner of The Greener Side, said 60 percent of the customers at his shop on Jan. 1 were from Colorado, 40 percent were from out of state.
"They've been waiting for this for years. People jumping up and down, screaming when they walked out," Borunda said.
Business owners don't know how much longer the crowds will last, but county commissioners say they have a lot to gain. "We're gonna be receiving some sizable tax revenue from legal recreational marijuana sales," Pace said.
Recreational marijuana in Pueblo County is taxed at 17.4 percent. There's a 1 percent county tax, 2.9 percent state tax, 10 percent state marijuana tax and 3.5 percent local marijuana tax. Of the 10 percent tax collected by the state, 1.5 percent returns to the county. Pueblo County collects a total of 6 percent in taxes.
Copyright 2014 KRDO. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.