SALT Report 3146 – Colorado Voters passed a ballot measure (Proposition AA) which imposes a 15% excise tax and a 10% sales tax on all recreational uses of marijuana. State lawmakers have stated that the resulting tax will infuse approximately $70 million a year in additional revenue with the first $40 million of that going to fund for public school capital construction.
Voters in the City of Denver, CO also passed an additional sales tax of 3.5% on the use of recreational marijuana. Revenue generated would be used to “pay for issues related to marijuana legalization – such as regulating the stores or creating public-health educational campaigns on pot.”
For Further Information:
Colorado House Bill (2013) 13-1318 Retail Marijuana Taxes
The Denver Channel: Prop. AA, the marijuana taxation measure, passes 65 percent to 35 percent
BallotPedia.org – Colorado Proposition AA – Taxes on the Sale of Marijuana (2013)
BallotPedia.org – City of Denver Additional Marijuana Sales Tax, Question 2A (November 2013)
The Denver Post: Denver voters backing 3.5 percent tax on pot
