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Owners of the 37 new dispensaries around Colorado reported first week retail sales when added together, were roughly $5 million.

Colorado, the first state to allow retail recreational marijuana sales to adults age 21 and older, has projected nearly $600 million in combined wholesale and retail marijuana sales annually. The state, which expects to collect nearly $70 million in tax revenue from pot sales this year.

source: HuffingtonPost

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Stefano Gabbana (left) Domineco Dolce (right)

ROME (AFP) –  An Italian court Wednesday sentenced fashion house duo Dolce and Gabbana to one year and eight months in prison for tax evasion of around one billion euros ($1.33 billion), according to media reports.

Lawyers for Dolce and Gabbana, whose celebrity clients include Beyonce and Madonna, immediately said they will be appealing, and under Italian law the sentence will be suspended in the meantime.

Domenico Dolce and Stefano Gabbana were accused of having transferred control of their brands to a shell company in Luxembourg in 2004 and 2005 to avoid paying Italian taxes.

Prosecutors had argued that setting up the Luxembourg company Gado — an acronym of the surnames of the two designers — while the company was operating out of Italy was a bid to defraud the state.

Investigators completed a probe into the designers, as well as five other people, in 2010 and the case was dismissed in April 2011 but reopened in November last year and went to trial.

Founded in 1985, Dolce and Gabbana employs more than 3,000 people and has 250 shops in 40 countries around the world.

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