Colorado To Offer One-Day Tax Holiday On Marijuana

Washington state raked in more than $70 million in taxes during its first year of legal and regulated marijuana sales.

COLORADO:  Colorado will repeal sales taxes on marijuana Sept. 16, thanks to a quirk in its constitution.

The one-time-only holiday from the 10 percent state sales tax on recreational pot is likely to generate buzz in the first state in the nation to legalize marijuana.

The little-noticed provision is part of a larger bill that Gov. John Hickenlooper signed into law Thursday that includes a ballot initiative in November and a permanent tax cut on recreational pot sales in 2017.

“This fiscal glitch that we have with the constitution … that’s part of the magic of living in Colorado,” the Democratic governor said.

Read full article @ Denver Post

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