Colorado voters approve new taxes on recreational marijuana
A measure to impose taxes on recreational marijuana passed making pot one of the most heavily taxed consumer products in Colorado. Proposition AA imposes a 15 percent excise tax on the wholesale price and an initial 10 percent sales tax on the retail price. The measure is expected to bring in $67 million a year. Of that, $27.5 million generated by the excise tax would go toward school construction, as specified in the constitutional amendment that legalized recreational marijuana use.
The Denver Post (US)
Tuesday, November 5, 2013