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.”
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