You are here
Home 🌿 Recreational Marijuana News 🌿 Colorado to offer one-day tax holiday on marijuana 🌿Colorado to offer one-day tax holiday on marijuana
Warning message
The subscription service is currently unavailable. Please try again later.Colorado will repeal sales taxes on marijuana Sept. 16, thanks to a quirk in its constitution.
The one-time-only holiday from the 10 percent state sales tax on recreational pot is likely to generate buzz in the first state in the nation to legalize marijuana.
The little-noticed provision is part of a larger bill that Gov. John Hickenlooper signed into law Thursday that includes a ballot initiative in November and a permanent tax cut on recreational pot sales in 2017.
"This fiscal glitch that we have with the constitution ... that's part of the magic of living in Colorado," the Democratic governor said.
The impetus is the Taxpayer's Bill of Rights, a measure championed by conservatives. The constitutional provision requires voters to approve new taxes based on estimates of collections and state spending. If the actual amount exceeds the estimates, refunds are necessary.
Colorado isn't collecting more...
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