Retail Sales Of Marijuana Now Legal In Colorado

Colorado is ringing in 2014 on a high note as the Centennial State becomes the first in the nation to allow legal retail recreational marijuana sales.  Locations will be able to open their doors to anyone 21 and over. 

Colorado residents will be able to buy up to an ounce of pot at a time, while those from out of state will be limited to a quarter ounce. 

The state estimates the retail sales of marijuana will make around 67-million-dollars in the first year in tax revenue.  More than 27-million of that is earmarked to build schools.  The sales will be taxed at 25-percent on top of the usual state and local sales tax.  (Metro Networks Inc.)