Tax Holiday A Boost For Pot Shops
Oz of cannabis going for $100 at Sweet Leaf. Normally up to $180. pic.twitter.com/I8wwNXCGbc— Sam Brasch (@samuelbrasch) September 16, 2015
A marijuana tax holiday Wednesday appears to be boosting the industry.
Lawmakers didn’t plan a one-day stimulus for recreational marijuana. The holiday is the result of a provision in the state constitution that requires Colorado to suspend tax collection if revenues are higher than expected.
That’s what happened with the marijuana excise and sales tax, which voters passed in 2013. As a result, the state cut taxes on sales of recreational marijuana by 25 percent for one day.
Nena Sahebekahtiari, who manages the Sweet Leaf dispensary in South Denver, expected to bring in twice the usual sales because of the holiday.
Jordan McNeil, a budtender at the store, said the early-morning crowds equaled what she saw on April 20th—the unofficial marijuana holiday.
“For 20 to 30 people to come through the door before 10 a.m.—that’s pretty big for this store,” she said.
Many customers at Sweet Leaf said they waited to take advantage of the holiday. Other shops around the state have offered deals on top of the tax breaks to draw in customers.
Because the state doesn't publish daily sales data, it's unknown if the holiday will set a record for pot sales.
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