Colorado Gears Up For One-Day Tax Break on Recreational Marijuana

September 10, 2015
AggregatedNews
Colorado, Policy & Legal
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Colorado’s unusual tax law is forcing the state to suspend taxes on recreational marijuana for one day.

The sales-tax break on Sept. 16 will shave $20 off the price of a mid-grade ounce of pot in the Denver area, where ounces this summer sell for about $200 before tax.

It’s unusual for a state that has many times rejected sales-tax holidays on things like school supplies, clothing or energy-efficient appliances. Officials say it could cost the state $3 million to $4 million.

“At first I was in disbelief we were doing this,” said Cheri Hackett, who owns Botanacare, a dispensary in the Denver suburb of Northglenn. “Once our lawyer said, ‘No, we really are doing this,’ we started getting ready. We’re thinking there will be huge crowds.” [Read more at The Denver Post]

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