Voters Approve New Taxes On Marijuana In Areas Of Colorado

DENVER (AP) — Voters in two parts of Colorado have approved new taxes on marijuana following Tuesday’s elections.

The Vail Daily reports residents in Eagle County approved new sales and excise taxes on recreational marijuana that will be phased in at increments.

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Each tax will start at 2.5 percent and cap at 5 percent. They will be added to the existing 4 percent sales tax on all retail products.

The Daily Sentinel reports the tiny western Colorado town of De Beque approved a new sales tax of 5 percent on medical marijuana, though the town does not have any medical marijuana centers. The new tax will replace a fee of $5 per transaction.

The town has two recreational marijuana dispensaries, and it already places a 5 percent tax on retail marijuana sales.

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Comments

One Comment

  1. Jen Adler says:

    I moved to Colorado from Minnesota and I find it absolutely bizarre the way the state of CO imposes way too high of a tax on marijuana products but has a paltry tax level for tobacco, alcohol, and property taxes. If you spread the tax revenue out equally among things you could have way better roadways, sanitation, schools, etc. Booze will always outsell pot. Always.

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