Cannabis Being Sold Today Tax Free in Colorado
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Legal cannabis is being sold tax free today throughout Colorado as part of a one day “tax holiday”.
As part of the tax holiday, all state taxes on cannabis sales are made void today, September 16th, bringing the average price of an ounce down by $20 – $50.
The tax holiday was signed into law in June by Governor John Hickenlooper, mandated by the state’s Taxpayer’s Bill of Rights (TBoR) which requires voter approval for all new taxes, and requires that any new taxes be waived and refunded if overall state collections exceed projections given to voters when they approve a new tax, as it did this year.
According to Colorado’s Department of Revenue, over $500 million in legal cannabis has been sold so far in 2015.
– TheJointBlog