Wednesday, November 06, 2013

Colorado voters approve 25 percent taxes on recreational marijuana

By Keith Coffman

DENVER (Reuters) - A Colorado measure to impose sales and excise taxes of 25 percent on newly legalized recreational marijuana and earmark the first $40 million in revenue for public schools was approved by voters on Tuesday, Governor John Hickenlooper said.


The move showed a willingness on the part of Colorado voters to tax marijuana for the public benefit even as they roundly defeated a broader tax measure that would have increased state income taxes to raise $1 billion for schools.

Colorado and Washington last year became the first U.S. states to legalize marijuana for recreational purposes. But Colorado, whose constitution requires a statewide vote to approve tax increases, left it to voters to decide how to tax the newly legal drug.

"We are grateful voters approved funding that will allow for a strong regulatory environment, just like liquor is regulated," Hickenlooper said as returns showed 65 percent of voters in favor of the tax and 35 percent against with about a quarter of votes counted.

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billy pilgrim said...

25% tax is a red herring. the only price that counts is the final price. i guess the 25% tax is on top of the retail mark up of 100%.

illegal marijuana might be a lot cheaper than legal marijuana.

maybe obama will come up with obamapot and make everyone buy it or face a fine.

texlahoma said...

Billy -
Yeah they don't need to make the tax too high or it will cut down on legal - taxable sales. I bet a lot of pot grown for sale in Co. makes it out of state, probably really shaking up the market.

billy pilgrim said...

i'm pretty pissed with our compassion club. they counsel people to smoke way too much. i've monkeyed around and experimented using tiny amounts and find it works very well and i'm talking about really really tiny amounts. maybe about 1/50 of a reefer.

texlahoma said...

Billy - Maybe they just want people to get really stoned. 1/50th? Man, that's quality, no wonder BC Bud is legendary.

billy pilgrim said...

it's not so much that the pot is powerful, it's just that you don't need much to take the edge off and relax.

i haven't heard any of the marijuana activists talking about small doses which disappoints me a great deal.

texlahoma said...

Billy - Okay, I get what you're saying.
Some of them should be advocates for small doses, lots of upside to it.
Image, cost, too many to list.

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