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 set up to regulate marijuana in Colorado agreed Thursday to recommend the highest tax contemplated by voters last year — a 15 percent excise tax, with the profits going to school construction.
The tax question is far from settled, though.
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.
[worldnow id=8530417 width=420 height=278 type=video]
Any option would have…
View original post 465 more words