Quirk Forces Colorado To Waive Marijuana Taxes On Sept. 16
AP Colorado's unusual tax law is forcing the state to suspend taxes on recreational marijuana for one day — Sept. 16 — during which a 10 percent sales tax and 15 percent excise tax won't be collected.
The sales-tax break would shave $20 off the price of a mid-grade ounce of pot in the Denver area, where ounces this summer sell for about $200 before tax.
It's unusual for a state that has many times rejected sales-tax holidays on things like school supplies, clothing or energy-efficient appliances. Officials say it could cost the state $3 million to $4 million.
Retailers, meanwhile, are getting ready for an influx of shoppers.
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