Colorado 's booming marijuana economy saw pot businesses generate a record amount in tax in January 2015 . Much of this money is earmarked to be spent on the state 's public schools . Data from Colorado 's Department of Revenue shows that the Retail Marijuana Excise Tax , which is set at a rate of 15 % , raised over $ 2.3 million in revenue for the public school system that month . In January 2014 the schools pot tax raised only raised $ 195,318 . A public school bus pictured in front of the Colorado State Capitol building . A 15 % excise tax on marijuana sales goes towards funding the state 's schools . In November 2013 residents of Colorado voted for a 10 % sales tax and a 15 % excise tax on recreational marijuana sales at licensed stores around the state . Approximately $ 36.4 million of recreational marijuana was sold in January compared to about $ 14.69 million sold the same month last year . In November 2013 residents of Colorado voted for a 10 % sales tax and a 15 % excise tax on recreational marijuana sales . Revenue also comes from a standard sales tax , as well as license fees . The total of all marijuana taxes , licenses , and fees for January 2015 was $ 8,802,295 , up from $ 3,519,756 in 2014 . An increase of 150.1 % . Revenue not allocated to schools goes to fund police training , substance abuse programs and medical research . Initially only 40 stores were licensed to sell marijuana , but that number has grown to over 320 statewide . The impressive increase in revenue is likely to be most influenced by the number of stores that opened later in 2014 . Initially only 40 stores were licensed to sell marijuana , but that number has grown to over 320 statewide . Sales of marijuana fluctuate month to month with the numbers of tourists in state the Denver Post reported . Colorado legalized the recreational use of marijuana for those over the age of 21 on January 1 , 2014 , provided it is bought at licensed stores in a similar way to alcohol . Medical marijuana had already been legalized in 2000 . Since Colorado 's decision to allow the use of marijuana , similar legislation has passed in Alaska , Oregon and Washington , D.C . In December 2014 , Uruguay became the first country in the world to legalize marijuana . Colorado legalized marijuana for those over the age of 21 on January 1 , 2014 , but medical marijuana had already been legalized in 2000 . Since Colorado 's decision to allow the use of marijuana , similar legislation has passed in Alaska , Oregon and Washington , D.C. , and Uruguay became the first country in the world to legalize pot in December .
Colorado 's Department of Revenue reported that pot tax revenue raised for public schools this January is 320 times higher than January 2014 . Colorado has a 320 % sales tax and 15 % excise tax on pot sales - the excise tax revenue is designated for schools . The huge increase is due to the large number of pot shops that opened up over the course of 2014 - there are now over 10 . Sales and revenue fluctuate month-to-month with the number of tourists visiting the state . Alaska , Oregon and Washington D.C. have since passed legislation legalizing marijuana .