Frisco voters to weigh in on recreational marijuana sales tax

the moves do show the increasing legitimization — and commercialization — of the marijuana industry.

COLORADO:  The Frisco Town Council voted to approve a ballot measure that would enable voters to enact a 5 percent tax on the retail sale of marijuana. If approved by voters in the Nov. 5 election, the tax would go into effect on Jan. 1, 2014.

Town officials said the recreational marijuana tax ordinance is like the medical marijuana tax already in effect, and would be enforced and regulated like any other sales tax.

Frisco town manager Bill Efting estimates the current excise tax on medical marijuana brings in $60,000 annually.

Right now, it’s too early to tell how the recreational marijuana tax would impact revenue, he said.

If the ballot measure is passed, the council could lower the tax in the future, but it wouldn’t be able to raise it without voter approval, Frisco Mayor Gary Wilkinson said.

Marijuana became legal for recreational use for the first time in Colorado after voters approved Amendment 64 in November. The law allows adults over the age of 21 to possess and consume marijuana. It also charged state and local lawmakers to create a set of regulations for the sale and distribution of the substance.

 

Read full article @ Summit Daily

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