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

Colorado: Cannabis to be Sold Tax Free on September 16th

coloOn September 16th, recreational cannabis will be sold tax free throughout the State of Colorado. The one day “tax holiday” was signed into law by Governor Hickenlooper in June.

The one day tax-break is due to the Colorado’s Taxpayer’s Bill of Rights. The law requires voter approval for new taxes, and mandates that any new taxes be waived and refunded if overall state collections exceed projections given to voters when they approve a new tax.

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