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Home 🌿 Recreational Marijuana News 🌿 Colorado marijuana-tax holiday saves growers big bucks 🌿Colorado marijuana-tax holiday saves growers big bucks
DENVER — Tim Cullen smiled when he reckoned a one-day marijuana-tax holiday in Colorado had probably saved him tens of thousands of dollars.
Cullen, the owner of Colorado Harvest Co., a chain of marijuana dispensaries, was among the many growers and shoppers who benefited Wednesday from a quirk that required the state to suspend a 10 percent sales tax and a 15 percent wholesale excise tax for a day.
While shoppers saved roughly $20 an ounce, or about 33 cents per joint, pot growers saved $300 a pound.
“I probably saved $45,000 before lunch,” Cullen said.
Looking over a small tangle of pot shoppers in his suburban Denver shop, Cullen said the crowds weren’t huge, but the tax break would be a big win anyway.
“This is just gravy,” Cullen said about the shoppers.
The odd tax waiver was triggered almost two years ago, when Colorado voters approved...
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