Huge tax boost from Colorado marijuana
The temporary tax break could cost Colorado up to more than $NZ6m in revenue.
Colorado saw a sales increase last year in all three tax classes of alcohol.
Here’s how it all fits together. By comparison, state alcohol excise taxes raked in about $42m (£27m) – up 2.4% from 2013, the state said. The one-day pot tax holiday came after the state underestimated its overall state tax collections last year.
Curt Steiner, a political consultant and spokesman for Ohioans Against Marijuana Monopolies, said the report is handwriting on the wall if Ohio approves legalizing marijuana for recreational and medicinal use.
The duty-free day was announced in June after Gov. John Hickenlooper signed a bill with a corresponding November ballot measure that will ask voters whether or not the state can keep taxes generated by marijuana sales. To comply with the requirement taxes revert to zero, lawmakers settled on a one-day...
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