Marijuana Taxes Go Up In Smoke For One Day In Colorado
It isn’t April 20, but Colorado is staging its own version of pot day. It sounds odd, but the state claims tax law is forcing it to suspend taxes on recreational marijuana for one day, September 16, 2015. The bizarre tax holiday is due to what Gov. Hickenlooper called a fiscal glitch in the state constitution. Value buyers may note that the holiday should shave about $20 off the price of a mid-grade ounce of marijuana. There could be huge crowds and hoarders.
September 16, 2015 was picked because an end-of-year fiscal report is due to be certified the previous day. According to state figures, $700 million worth of legal cannabis was sold in Colorado in 2014. The tax tally was $76 million. Pot taxes were projected to raise $70 million in 2014. They actually raised $58 million, but because overall tax collections exceeded projections, Colorado must ask voters for permission to keep the money. To comply...
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