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Colorado to offer one-day tax holiday on marijuana [View all]
Colorado will repeal sales taxes on marijuana Sept. 16, thanks to a quirk in its constitution.
The one-time-only holiday from the 10 percent state sales tax on recreational pot is likely to generate buzz in the first state in the nation to legalize marijuana.
The little-noticed provision is part of a larger bill that Gov. John Hickenlooper signed into law Thursday that includes a ballot initiative in November and a permanent tax cut on recreational pot sales in 2017.
"This fiscal glitch that we have with the constitution ... that's part of the magic of living in Colorado," the Democratic governor said.
The one-time-only holiday from the 10 percent state sales tax on recreational pot is likely to generate buzz in the first state in the nation to legalize marijuana.
The little-noticed provision is part of a larger bill that Gov. John Hickenlooper signed into law Thursday that includes a ballot initiative in November and a permanent tax cut on recreational pot sales in 2017.
"This fiscal glitch that we have with the constitution ... that's part of the magic of living in Colorado," the Democratic governor said.
http://www.denverpost.com/news/ci_28252221/colorado-offer-one-day-tax-holiday-marijuana
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