Colorado’s legal pot industry may be booming, but state lawmakers aren’t sure how to spend the windfall.
After months of uncertainty about marijuana and its tax potential, Colorado lawmakers start work Tuesday deciding how to spend pot taxes.
Colorado’s uncertain marijuana market has prompted the governor to ratchet back his projection of how much tax the newly legal drug could produce.
A southern Colorado county with two stores has become the first in the state to announce tax totals from the new industry.
It’s the first tax deadline for the first fully regulated marijuana market in the world.
Colorado Gov. John Hickenlooper has announced a plan to start spending nearly $100 million in marijuana tax money.
Colorado’s hearty embrace of a 25 percent marijuana tax this week could prove a turning point for legalization backers. They’ve long argued that weed should come out of the black market and contribute to tax coffers.
Colorado’s mercurial political nature was on full display Tuesday, with voters overwhelmingly approving taxes on marijuana sales but rejecting an income tax hike for schools.
Further bringing marijuana into the mainstream, Colorado voters decided Tuesday to treat the blossoming industry like other businesses by passing hefty taxes designed to raise money for schools and regulation.
Marijuana giveaways that sparked an unusual campaign finance report in Colorado have been given a value. The joints were worth $1,250, paid for by a lawyer funding the opposition campaign.