For The Consumer, This Type Of Increase Would Result In A $20 Pack Of Edibles Costing $21, He Added.

Each percentage point increase in marijuana taxes equates to about a $10 million increase in tax revenue for the state, said Chris Stiffler, an economist at the Colorado Fiscal Institute. For the consumer, this type of increase would result in a $20 pack of edibles costing $21, he added. How the state spends marijuana tax dollars has evolved since lawmakers asked voters to bless Proposition AA. The ballot question told voters the money would cover the expense of regulating the new marijuana industry and pay other associated costs, such as programs for youth education and drug treatment. “There was a lot of discussion in the first few years about what were the voters’ expectations, what voters wanted us to be doing,” recalled Steadman, who helped craft the law. “That scope of purposes has grown in time … as what the voters intended in 2013 matters less and less.” The money for rural schools — estimated at $10 million a year for three years — probably fits under the current allowable uses, thanks to the leeway built into the law that allows for spending related to “adolescents and school-aged children in school settings.” But the business tax break represents an entirely new direction. Senate President Pro Tem Jerry Sonnenberg, the Republican bill sponsor, said the proposed legislation includes an exception to carve out the money for the business tax break. Mason Tvert, a Marijuana Policy Project spokesman and supporter of Amendment 64, which colorado marijuana legalized recreational marijuana, and Proposition AA, questioned the proposed use of tax money. “Marijuana businesses are already generating hundreds of millions of dollars (in sales),” he said. “It seems unfair to increase taxes on marijuana consumers to cover a tax break for unrelated businesses.” The other concern is the black market.

To read more visit http://www.denverpost.com/2017/05/02/marijuana-tax-hike-15-percent/

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