You are here

Home 🌿 Medical Cannabis News 🌿 Denver marijuana tax refund: Plan for city ballot measure passes first step 🌿

Denver marijuana tax refund: Plan for city ballot measure passes first step

Submitted by Marijuana News on Thu, 05/14/2015 - 09:28

Denver voters in November may decide whether the city can keep its first-year haul from a 3.5 percent special recreational marijuana sales tax.

The city’s ballot question would join a likely statewide measure asking the same question about $58 million collected by the state last year from its separate marijuana tax. In Denver’s case, at stake is nearly $5.3 million.

A City Council committee approved the wording 5-0 Wednesday. The measure is expected to get the council’s final sign-off June 8.

Both the city and the state must ask voters to let them keep the entire amounts because of rules under the Taxpayer’s Bill of Rights. A booming economy resulted in higher revenue for both last year than had been projected when voters approved the state and local taxes on recreational marijuana.

TABOR requires that all of those new taxes be refunded, unless voters give the governments the green light...

Rate this article: 
Region: 
Colorado

This marijuana news is brought to you by 420 Intel. For the latest breaking cannabis industry news, subscribe to the 420 Intel newsletter. If you'd like to promote your product or service in this area after every article, contact us.


URL: 
http://www.denverpost.com/marijuana/ci_28109341?source=rss

420 Intel is Your Source for Marijuana News

420 Intel Canada is your leading news source for the Canadian cannabis industry. Get the latest updates on Canadian cannabis stocks and developments on how Canada continues to be a major player in the worldwide recreational and medical cannabis industry.

420 Intel Canada is the Canadian Industry news outlet that will keep you updated on how these Canadian developments in recreational and medical marijuana will impact the country and the world. Our commitment is to bring you the most important cannabis news stories from across Canada every day of the week.

Marijuana industry news is a constant endeavor with new developments each day. For marijuana news across the True North, 420 Intel Canada promises to bring you quality, Canadian, cannabis industry news.

You can get 420 Intel news delivered directly to your inbox by signing up for our daily marijuana news, ensuring you’re always kept up to date on the ever-changing cannabis industry. To stay even better informed about marijuana legalization news follow us on Twitter, Facebook and LinkedIn.