Cannabis Being Sold Today Tax Free in Colorado

coloradoLegal 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.

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Colorado: Cannabis to be Sold Tax Free Tomorrow, September 16th

theweedstreetjournal.comTomorrow, September 16th, legal cannabis in Colorado will be sold free of any state tax, as part of a one day “tax holiday”.

The tax holiday – which is due to the state’s Taxpayer’s Bill of Rights (TBoR) – was signed into law in June by Governor John Hickenlooper.

Under TBoR, voter approval is required for all new taxes, and there’s a mandate 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.

Read moreColorado: Cannabis to be Sold Tax Free Tomorrow, September 16th