LOS ANGELES, March 11, 2014 /PRNewswire/ -- Verde Media Group
Inc. (OTC: VMGI)
As reported by John Ingold of the
Denver Post. Colorado
collected slightly more than $2
million in taxes on the sale of recreational marijuana in
the month of January, according to new figures released by the
state Monday.
The numbers are the first official tallies of the historic
January sales, themselves a nationwide first.
In January, Colorado collected $1.4 million from a
special 10 percent sales tax on recreational marijuana, plus
another $416,690 from the state's
standard 2.9 percent sales tax, according to a news release Monday
from the Colorado Department of Revenue. Extrapolating from those
figures, recreational marijuana businesses did slightly more than
$14 million in retail sales during
the month.
Most of the tax revenue came from stores in Denver, and the city reported it collected
$616,282 in local sales taxes from
recreational marijuana sales in January. In addition, the state
will share $128,586 with the city
from statewide collections.
Recreational marijuana businesses paid $195,318 in excise tax during January, which will
be put toward school construction.
In total, 59 recreational marijuana businesses filed returns in
January.
Both Gov. John
Hickenlooper's budget office and legislative
analysts have predicted recreational sales for the first six
months of 2014 would top $190 million.
William Veve, President of Verde
Media Group, Inc. stated, "Again the business landscape in the
legal marijuana market is validated by significant collection of
tax revenue."
About Verde Media Group Inc.
Verde Media Group Inc. is a publicly traded company listed on
the OTC Markets trading under the stock symbol: VMGI. Verde
Media Group Inc. The company is consists of three
divisions:
Agency Division- The innovative Agency division services-
public relations, marketing, and transaction functions for
corporate clientele. The agency is rapidly expanding its
business in the Denver, Colorado
market that will become the largest retail marijuana sector
currently legitimized.
BioTech Division- The VMBD division undertakes the business of
developing and producing high value bio-products from renewable
biomass. The focus and criterion is to develop proprietary
microbial technologies with low risk scale-up methods employing low
cost feedstock. VMBD will further develop the derivative and
ester forms of THC for increase potency and their use in different
delivery systems, including sublingual, inhaled dosage forms and
blending with food products.
Entertainment Division- The company operates a managed
media company with production, distribution, development, and
acquisition functions for film and television.
For more information, visit www.verdemediagroup.com, or connect
with the company on Facebook. Twitter- @Verdemediagroup
DISCLAIMER: CAUTIONARY DISCLOSURE ABOUT FORWARD-LOOKING
STATEMENTS
The results described herein cannot be guaranteed. This release
contains "forward-looking statements" within the meaning of Section
27A of the Securities Act of 1933, as amended, and Section 21E the
Securities Exchange Act of 1934, as amended and such
forward-looking statements are made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995.
Statements in this news release other than statements of historical
fact are "forward-looking statements" that are based on current
expectations and assumptions.
Logo -
http://photos.prnewswire.com/prnh/20140219/PH68218LOGO
SOURCE Verde Media Group Inc.