Dispensaries in El Paso County say business is booming because of it.
Tim Cullen smiled when he reckoned a one-day marijuana tax holiday in Colorado had probably saved him tens of thousands of dollars.
Colorado’s Taxpayer’s Bill of Rights requires voter approval for new taxes.
While 97 percent of Australian families that claim tax benefits for their offspring are vaccinated, the number of children under 7 years old who are not vaccinated because their parents are objectors has increased by more than 24,000 over the past decade to 39,000, the government said.
Coloradans enjoying tax-reduced weed Wednesday might have Conservatives to thank. Wednesday is the day when pot can be bought without paying any taxes.
The state’s financial year comes to a close on June 30, as such; certification of Colorado’s prior year’s tax revenue is absolute on September 15.
The taxes revert to 25 percent on Thursday. Further clarifying, Tvert noted, “This will be the one day out of the year when the state won’t generate significant revenue”.
While a basic sales tax still applies, cannabis enthusiasts will be able to purchase the product across the state without another 10% sales tax or the 15% excise on marijuana growers. Based on the figures released by the Colorado Department of Revenue, $70 million was brought from marijuana taxes compared to less than $42 million from alcohol taxes, over the course of the year. It does not waive duties on medical marijuana or local taxes.
“They’ve been setting up doing their advertisements and telling their customers to come on down for special deals”, said Tyler Henson, president of the Colorado Cannabis Chamber of Commerce.
This morning, all across Denver, recreational marijuana stores opened their doors to long lines, reports state.
A vote will be held to determine whether or not the state can keep the excess tax collected.
The legislation was championed by Conservatives and is described by the Bell Policy Center as “the most restrictive tax and spending limitation in the country”.