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 Read the full article…
COLORADO: Those pot tax dollars are rolling in, and they don’t show signs of letting up anytime soon. The Colorado Department of Revenue in June collected slightly more in tax revenue than the month before, according to its recent sales report. The state collected $4,775,679 from marijuana-related sales tax in June 2014, up from $4,511,668 collected in Read the full article…
COLORADO: It hasn’t been long since Colorado officially legalized marijuana, and within a short time period, marijuana sales are already flourishing. According to the Colorado Department of Revenue, in March alone, retail taxes on recreational marijuana reeled in $1.898 million to the Colorado government. After adding in medical marijuana sales tax and licenses, the first three months Read the full article…
TEXAS: Will the booming taxes being collected in Colorado from marijuana be enough to turn the heads of Texas lawmakers in favor of legalization, or at least lessening the penalties on pot and allowing for taxation? Retail marijuana sales in Colorado brought in $1.4 million in January, and that number jumped to nearly $1.9 million Read the full article…
COLORADO: For Colorado’s new flock of recreational marijuana growers and sellers, Thursday was Tax Day — their first deadline to hand over the taxes they had collected during their inaugural month of sales. And as store owners stuffed cash into lockboxes and made the nervous trek to government offices, new budget numbers predicted that those Read the full article…
COLORADO: After legalizing recreational marijuana last year, Colorado voters Tuesday are considering a tax on the drug. The ballot measure represents the “politics of compromise,” said Rep. Jonathan Singer, the Democratic state legislator behind the tax proposal. The tax on marijuana must be high enough to generate revenue for enforcement but low enough to deter consumers Read the full article…