You are here
Home 🌿 Recreational Marijuana News 🌿 Marijuana is tax-free in Colorado today thanks to an accounting error 🌿Marijuana is tax-free in Colorado today thanks to an accounting error
Marijuana consumers were taking advantage of a tax holiday in Colorado on Wednesday, with some lining up early for doorbuster-style deals.
A quirk in state law led Colorado to suspend most taxes on recreational pot for one day, including a 10 percent sales tax on pot and a 15 percent excise tax on marijuana growers.
At The Grass Station near downtown Denver, a dozen shoppers were in line before doors opened.
"Lower prices are always better," said Benjamin DelCarpio of Centennial, who was rewarded for standing in line with a 50 percent off coupon.
The tax break is happening because Colorado underestimated overall state tax collections last year. Under the state Constitution, the accounting error triggers an automatic suspension of any new taxes — in this case, the recreational marijuana taxes voters approved in 2013.
Retailers are hoping for big crowds, rolling out bargains to attract shoppers. The state had...
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.
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.
Follow us on Instagram
Connect with us on Linkedin