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Home 🌿 Marijuana Business News 🌿 Tax quirk forces Colorado to waive pot taxes for a day 🌿Tax quirk forces Colorado to waive pot taxes for a day
Think of it as a back-to-school sales tax break, but for stoners.
Colorado's unusual tax law is forcing the state to suspend taxes on recreational marijuana for one day — Sept. 16 — during which a 10 percent sales tax and 15 percent excise tax won't be collected.
The sales-tax break would shave $20 off the price of a mid-grade ounce of pot in the Denver area, where ounces this summer sell for about $200 before tax.
It's unusual for a state that has many times rejected sales-tax holidays on things like school supplies, clothing or energy-efficient appliances. Officials say it could cost the state $3 million to $4 million.
"At first I was in disbelief we were doing this," said Cheri Hackett, who owns Botanacare, a dispensary in the Denver suburb of Northglenn. "Once our lawyer said, no, we really are doing this, we started getting ready. We're thinking...
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