Pot Taxes In Colorado Could Exceed 30 Percent

Medical marijuana is shown in a jar at The Joint Cooperative in Seattle

Is it necessary to have such a high tax on marijuana? Alcohol is not this high…

CBS Denver

DENVER (AP) – A legislative panel decided Friday that marijuana in Colorado could be taxed at rates above 30 percent. But voters would have to OK the taxes, and some lawmakers fear the state’s tax-skeptical public could reject such high rates.

A House-Senate panel set up to propose marijuana regulations agreed to ask voters to approve a 15 percent excise tax, plus a 15 percent sales tax on the newly legal drug. If the full Legislature agrees, voters would be asked about the taxes in November. Commercial pot sales begin in January.

The panel’s other big decisions included recommending a ban on radio and TV advertising by pot businesses, and suggesting limits on the amount of pot that out-of-state visitors can buy.

Regarding taxes, the first $40 million of the excise tax would go to school construction, something voters dictated last year when they chose to flout federal drug law…

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