{"id":188,"date":"2015-09-11T01:44:52","date_gmt":"2015-09-11T01:44:52","guid":{"rendered":"http:\/\/dispensaries.com\/blog\/?p=188"},"modified":"2016-06-03T08:22:34","modified_gmt":"2016-06-03T15:22:34","slug":"colorado-s-pot-sale-the-unoffical-state-holiday","status":"publish","type":"post","link":"https:\/\/www.dispensaries.com\/blog\/colorado-s-pot-sale-the-unoffical-state-holiday\/","title":{"rendered":"Colorado’s Pot Sale: The Unofficial State Holiday"},"content":{"rendered":"

Understanding Colorado’s pot sale… The Colorado Tax Payer Bill of Rights unintentionally has created a new holiday for marijuana consumers in the state. \u00a0On September 16, pot will be way cheaper.<\/p>\n

Colorado’s Pot Sale: The Backstory<\/h2>\n

Here’s the backstory: \u00a0In Colorado, voter approval is required for all new taxes and voters passed a 25% tax on all dispensary sales for the state. At the same time, however, Colorado state law<\/a> makes it so that if tax collections in the state exceed published projections at the time of voter approval, then the state must waive taxes or else issue tax refunds. \u00a0So voters approved 25% on weed sales (earmarked for education) but the state can’t accept the income if it all adds up to be more than they were told it would be.<\/p>\n

The pickle – a headache for lawmakers we’ve also brought up here<\/a> – actually comes from overall tax income for the state. \u00a02014 state taxes exceeded projections. \u00a0$58 million of 2014 tax income was raised by pot. \u00a0Colorado voters approved $70 million. \u00a0But, again, it’s the overall tax income that’s the issue. \u00a0It was just too much.<\/p>\n

The concession now in play is that Colorado will suspend recreational marijuana taxes on September 16 making (this year) for a statewide weed buying holiday (think Nordstrom’s half yearly for cannabusinesses). \u00a0September 16 will cost the state an estimated $3 million and create a massively anticipated supply\/demand scenario for dispensaries.<\/p>\n

Colorado’s pot sales tax will apply as will any other local or other applicable taxes but this suspension alone is as big a discount as may ever be offered.<\/p>\n","protected":false},"excerpt":{"rendered":"

A new law has created Colorado’s pot sale, by lowering the prices in the open market. This is set to become a holiday for local residents interested in pot.<\/p>\n","protected":false},"author":6,"featured_media":988,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[16],"tags":[35,89,34,83],"yoast_head":"\nColorado's Pot Sale: The Unofficial State Holiday | Marijuana Tax<\/title>\n<meta name=\"description\" content=\"A new law has created Colorado's pot sale, by lowering the prices in the open market. 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