Coming to Colorado this September is one happy day for residents who enjoy cannabis.
Quirk in Colorado’s Constitution Provides Residents with a Tax Free Cannabis Day
Due to a blip in the Colorado Constitution, there will be one day of tax-free sales on Cannabis. This year that will be on Wednesday, September 16th. So, how did this happen? Well, Colorado had their legalization bill to repeal state taxes for 2017. However, due to their Taxpayer’s Bill of Rights, Colorado state tax payers must approve new taxes based on estimated collections and spending. Colorado has estimated that they will lose $100k from the one day of tax-free sales, but have shared that they are more concerned about the future of the cannabis revenue in general.
Well, Mark your Calenders people! September 16th is a tax-free cannabis day in Colorado!