Licenses for 136 marijuana stores, a majority in Denver, were mailed Dec. 23, the state Revenue Department said in a statement. Recreational marijuana businesses can open only after receiving both a state and local license, said Julie Postlethwait, a spokeswoman for the states Marijuana Enforcement Division.
In Denver, 18 shops received state and local licenses in time to begin selling marijuana Jan. 1, according to the Department of Excise and Licenses. Five marijuana-infused product manufacturers and 27 growers also received licenses.
Colorado residents with a photo identification showing they are at least 21 may buy as much as one ounce of pot in a single transaction, while those from out of state can get a quarter ounce. Customers cant consume the product in public, including at the shops.
Colorado projects $578.1 million a year in combined wholesale and retail marijuana sales to yield $67 million in tax revenue, according to the Legislative Council of the Colorado General Assembly. Wholesale transactions taxed at 15 percent will finance school construction, while the retail levy of 10 percent will fund regulation of the industry.