exotix
09-16-2015, 01:00 PM
Today
Colorado Weed Is Tax Free on Wednesday
http://time.com/4036077/colorado-weed-tax-free/
The tax-free day could cost the state $3 to $4 million in lost revenue
A quirk in Colorado law allows marijuana dispensaries to sell weed tax-free on Wednesday.
On most days, the state collects a 10% sales tax and 15% excise levy on marijuana sales.
Since legalizing the drug in 2012, the state has collected tens of millions in tax dollars from pot sells and used the funds to build schools.
The tax-free day on Wednesday is the result of a law that requires the state to waive taxes temporarily when revenue from that tax exceeds projections.
Still, marijuana won’t be completely tax-free. Purchasers will still be required to pay ordinary state sales tax.
Video Inside
http://i59.tinypic.com/9gfwaf.png
Colorado Weed Is Tax Free on Wednesday
http://time.com/4036077/colorado-weed-tax-free/
The tax-free day could cost the state $3 to $4 million in lost revenue
A quirk in Colorado law allows marijuana dispensaries to sell weed tax-free on Wednesday.
On most days, the state collects a 10% sales tax and 15% excise levy on marijuana sales.
Since legalizing the drug in 2012, the state has collected tens of millions in tax dollars from pot sells and used the funds to build schools.
The tax-free day on Wednesday is the result of a law that requires the state to waive taxes temporarily when revenue from that tax exceeds projections.
Still, marijuana won’t be completely tax-free. Purchasers will still be required to pay ordinary state sales tax.
Video Inside
http://i59.tinypic.com/9gfwaf.png