Jacob Redmond
Well-Known Member
Though it's still early, Boulder's recreational pot shops already are reaping the benefits of today's state marijuana tax holiday.
For one day only, Colorado isn't collecting the 10 percent sales taxes on recreational marijuana and is also suspending a 15 percent excise tax on marijuana growers.
While municipal marijuana taxes in Boulder and elsewhere are still being applied, the state tax break is bringing customers in the door.
The tax break is happening because Colorado underestimated overall state tax collections last year. Under the state Constitution, the accounting error triggers an automatic suspension of any new taxes - in this case, the recreational marijuana taxes voters approved in 2013.
The Farm, 2801 Iris Ave., is expecting long lines and plans to have all five cash registers open today, said Alison Ledden, a spokeswoman for the store.
"The tax holiday is a great thing for our industry and it'll cause some excitement and get some folks in the store," she said. "Maybe some people who've been hesitant to shop recreationally because the taxes are so high might come in for the day and check it out."
Ledden said staffers have hung signs around the store in the hopes of clarifying which taxes are still being applied today.
Recreational marijuana shops have been abuzz this week with talk about the mid-week tax holiday, said Helping Hands general manager Johnny Kurish.
Kurish pondered what the uptick in business says about the state's current taxation levels on recreational marijuana.
"We just opened the doors and we're definitely busier than usual," he said this morning. "It's got the attention of people and this should be a good boost. It's interesting to see when you have different taxes for one day how the market changes. That's a pretty revealing insight into the market's reception of tax levels."
Officials at Herbal Wellness in Lafayette said they were too busy with customers this morning for questions from a Daily Camera reporter.
News Moderator: Jacob Redmond 420 MAGAZINE ®
Full Article: Colorado's marijuana tax holiday has Boulder pot shops bracing for busy day
Author: Sarah Kuta/The Associated Press
Contact: Contact Us - Boulder Daily Camera
Photo Credit: David Zalubowski
Website: Boulder Daily Camera
For one day only, Colorado isn't collecting the 10 percent sales taxes on recreational marijuana and is also suspending a 15 percent excise tax on marijuana growers.
While municipal marijuana taxes in Boulder and elsewhere are still being applied, the state tax break is bringing customers in the door.
The tax break is happening because Colorado underestimated overall state tax collections last year. Under the state Constitution, the accounting error triggers an automatic suspension of any new taxes - in this case, the recreational marijuana taxes voters approved in 2013.
The Farm, 2801 Iris Ave., is expecting long lines and plans to have all five cash registers open today, said Alison Ledden, a spokeswoman for the store.
"The tax holiday is a great thing for our industry and it'll cause some excitement and get some folks in the store," she said. "Maybe some people who've been hesitant to shop recreationally because the taxes are so high might come in for the day and check it out."
Ledden said staffers have hung signs around the store in the hopes of clarifying which taxes are still being applied today.
Recreational marijuana shops have been abuzz this week with talk about the mid-week tax holiday, said Helping Hands general manager Johnny Kurish.
Kurish pondered what the uptick in business says about the state's current taxation levels on recreational marijuana.
"We just opened the doors and we're definitely busier than usual," he said this morning. "It's got the attention of people and this should be a good boost. It's interesting to see when you have different taxes for one day how the market changes. That's a pretty revealing insight into the market's reception of tax levels."
Officials at Herbal Wellness in Lafayette said they were too busy with customers this morning for questions from a Daily Camera reporter.
News Moderator: Jacob Redmond 420 MAGAZINE ®
Full Article: Colorado's marijuana tax holiday has Boulder pot shops bracing for busy day
Author: Sarah Kuta/The Associated Press
Contact: Contact Us - Boulder Daily Camera
Photo Credit: David Zalubowski
Website: Boulder Daily Camera
