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| Colorado collects $2m in marijuana taxes in January | Colorado collects $2m in marijuana taxes in January |
| (about 7 hours later) | |
| The US state of Colorado collected $2m (£1.2m) in taxes from newly legalised recreational marijuana businesses in January. | |
| Colorado became the first US state to legalize the commercial sale of cannabis in 2012, and stores opened for business on 1 January 2014. | Colorado became the first US state to legalize the commercial sale of cannabis in 2012, and stores opened for business on 1 January 2014. |
| In total, 59 marijuana firms filed tax returns on an estimated $14m in sales. | In total, 59 marijuana firms filed tax returns on an estimated $14m in sales. |
| Overall, the state collected a total of $3.5m in marijuana taxes if medical marijuana firms are included. | Overall, the state collected a total of $3.5m in marijuana taxes if medical marijuana firms are included. |
| Marijuana model? | Marijuana model? |
| The money is earmarked for youth prevention services, substance abuse treatment, and public health, according to a plan proposed by Colorado Governor, John Hickenlooper. | The money is earmarked for youth prevention services, substance abuse treatment, and public health, according to a plan proposed by Colorado Governor, John Hickenlooper. |
| Many other US states are closely watching Colorado's figures. | Many other US states are closely watching Colorado's figures. |
| Washington state is set to introduce legal sales later this year. | Washington state is set to introduce legal sales later this year. |
| Most of Colorado's tax revenues came from firms around the city of Denver. | Most of Colorado's tax revenues came from firms around the city of Denver. |
| Recently, US President Barack Obama said marijuana was no more dangerous than alcohol, while cautioning both were bad decisions. | Recently, US President Barack Obama said marijuana was no more dangerous than alcohol, while cautioning both were bad decisions. |
| Nonetheless, he has instructed the Department of Justice to halt prosecutions of banks that do business with cannabis firms. | Nonetheless, he has instructed the Department of Justice to halt prosecutions of banks that do business with cannabis firms. |
| Currently, 20 US states, as well as Washington, DC, allow for the sale of medical marijuana. | Currently, 20 US states, as well as Washington, DC, allow for the sale of medical marijuana. |