COLORADO: It’s heady times in the Mile High City, and that’s just at the state budget office. Colorado is on track to more than double the state’s marijuana tax revenues this year, showing up the $44 million collected in 2014 with a projected 2015 windfall of $125 million, reports The Guardian. The state hoped to collect $70 million in 2014, Read the full article…
COLORADO: Legal marijuana tax revenues have been breaking records in Colorado this summer, nearly doubling monthly numbers from last year and on pace to exceed projections of legal sales that bring revenue back to the state. Through the first seven months of this year, Colorado has brought in nearly $73.5m, putting the state on pace to collect over Read the full article…
COLORADO: An accounting error in Colorado is paying off for marijuana consumers Wednesday, when a quirk in a state tax law prompts the state to suspend most taxes on recreational pot. The one-day pot tax holiday means Colorado won’t collect 10 percent sales taxes on pot. The state is also suspending a 15 percent excise Read the full article…
COLORADO: Colorado has brought in more than $150 million in marijuana tax revenue, according to official state data. That doesn’t make it a budgetary panacea, warn lawmakers. “The big lesson we tell other states is you probably shouldn’t legalize marijuana if you want to make money – that’s not why you do it,” said J. Skyler McKinley, deputy Read the full article…
WASHINGTON: The House on Friday passed a measure that makes several changes to the state’s new recreational marijuana market, including eliminating the three-tier tax structure and replacing it with a single excise tax of 37 percent at the point of sale.House Bill 2136 passed the House on a 59-38 vote and now heads to the Read the full article…
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…
OREGON: Oregon legislators on Monday unveiled a proposed retail sales tax for marijuana that would replace the harvest tax approved by voters. The proposed sales tax was one of the major provisions included in a new 104-page amendment aimed at implementing the marijuana legalization initiative approved last November by voters. There were also two other key developments Read the full article…
DISTRICT OF COLUMBIA: Should marijuana businesses pay tax on gross profits or net profits? It sounds like a silly question. After all, virtually every business in every country pays tax on net profits, after expenses. But the topsy-turvy rules for marijuana seem to defy logic. And taxes are clearly a big topic these days. Many have suggested that legalizing marijuana would Read the full article…
HAWAII: As you might be aware, in 2000 Hawaii enacted a medical use of marijuana law (Act 228, Session Laws of Hawaii 2000). The problem, of course, has been how to get this medical marijuana to those who need it without violating other laws. So this year our Legislature is working on House Bill 321, Read the full article…
WASHINGTON: On the first day of the special legislative session, Washington House members took up a bill that would change the way the state taxes recreational marijuana. Washington lawmakers are back in Olympia this week after failing to pass a two-year operating budget during the regular legislative session. Now, lawmakers have 30 days to address Read the full article…