Taxes Needed for Regulation of Marijuana in Colorado

Ballot measures in November will ask them to OK a 15 percent excise tax on marijuana and up to a 15 percent tax on pot sales, which lawmakers could later adjust downward if they wanted.

One estimate says the state could generate as much as $91 million a year off sales taxes on pot, though official estimates from the legislature put the revenue at $60 million. Meanwhile, legislative analysts project it would cost less than $15 million to regulate the industry.

Read full article @ Denver Post