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Colo. to waive marijuana taxes for one day
DENVER Colorado’s unusual tax law is forcing the state to suspend taxes on recreational marijuana for one day.
The sales-tax break on Sept. 16 will 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.
“At first I was in disbelief we were doing this,” said Cheri Hackett, who owns Botanacare, a dispensary in the Denver suburb of Northglenn. “Once our lawyer said, ‘No, we really are doing this,’ we started getting ready. We’re thinking there will be huge crowds.”
Hackett is printing signs to alert customers to the holiday and is trying to boost inventory for a one-day crush of business.
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