25 Percent Pot Tax Clears Colorado House
DENVER (AP) — Recreational pot taxes above 25 percent have won final approval in the House and await action in the Senate.
The tax vote was a party-line 37-27 without debate Tuesday. The taxes would be a 15 percent excise tax, with the money used for school construction, and a new 10 marijuana sales tax, to pay for regulation and enforcement. Those would be in addition to a statewide 2.9 percent sales tax and any local sales taxes.
Republicans say that the pot tax rate may be too high, and voters may reject the taxes on ballots this fall. Democrats argue that Coloradans want marijuana taxed steeply, and that the high tax rate is in line with other sin taxes such as tobacco taxes and gaming taxes.
Retail pot sales begin in January.
(© Copyright 2013 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)