Colorado task force ponders how to tax legal pot
DENVER (AP) — Pot smokers in Colorado were the biggest winners in the vote that legalized the drug. Now state regulators are working out the details of exactly how to tax it, so the benefits are shared statewide in the form of increased revenue.
A state panel meets Thursday to draft final recommendations based on the voter-approved marijuana legalization question that asked for excise taxes up to 15 percent to fund school construction.
Colorado lawmakers could set a lower tax, or they could add sales taxes beyond the current statewide 2.9 percent. Legislators could even create a special new "marijuana tax" for consumers, plus a series of required licensing fees for growers and sellers. Besides schools, the taxes must fund marijuana safety enforcement and drug education measures.
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