Colorado Pot Taxes Won’t Be As High As Hoped

COLORADO:It’s been just three months since marijuana was legalized in Colorado, but economists don’t think the state will raise as much in taxes as was hoped.

They had expected to raise $22.7 million before July from special sales taxes on recreational marijuana, but state economist Larson Silbaugh is skeptical.

About $3.4 million was raised in January and February, the only months for which sales have been reported so far.

“If current tax revenues keep coming in at the same pace, we won’t meet that expectation,” Silbaugh said.

Colorado Voters Overwhelmingly Approve State Marijuana Tax

COLORADO: A state ballot measure imposing special excise and sales taxes on recreational marijuana won handily in statewide voting Tuesday night. This story will be updated throughout the night.

9:20 p.m.: Latest count on Proposition AA : 668,358 in favor, 359,248 opposed.

9:12 p.m.: Results on local marijuana tax measures are beginning to come in from around the state. [Read more…]

Colorado Voters Overwhelmingly Approve State Marijuana Tax

COLORADO: A state ballot measure imposing special excise and sales taxes on recreational marijuana won handily in statewide voting Tuesday night. This story will be updated throughout the night.

9:20 p.m.: Latest count on Proposition AA : 668,358 in favor, 359,248 opposed.

9:12 p.m.: Results on local marijuana tax measures are beginning to come in from around the state. [Read more…]

Taxing Marijuana In Colorado, A Possible Model For Washington?

COLORADO: Lawmakers and citizens in Washington state and Colorado have been pondering that since recreational marijuana was legalized in both states. Tomorrow voters in Colorado will have a chance to decide how they want recreational marijuana taxed.

Proposition AA would impose two different types of taxes on recreational marijuana. First, an additional 10 percent sales tax would be added on top of the 2.9 percent sales tax that is standard in Colorado. Then there will also be a 15 percent excise tax to provide revenue to fund school construction.

 

Taxing Marijuana In Colorado, A Possible Model For Washington?

COLORADO: Lawmakers and citizens in Washington state and Colorado have been pondering that since recreational marijuana was legalized in both states. Tomorrow voters in Colorado will have a chance to decide how they want recreational marijuana taxed.

Proposition AA would impose two different types of taxes on recreational marijuana. First, an additional 10 percent sales tax would be added on top of the 2.9 percent sales tax that is standard in Colorado. Then there will also be a 15 percent excise tax to provide revenue to fund school construction.