Colorado task force ponders how to tax legal pot

10:43 PM, Feb 28, 2013   |    comments
  • Share
  • Print
  • - A A A +

By KRISTEN WYATT / Associated Press

DENVER (AP) -- A state panel set up to regulate marijuana in Colorado is recommending that lawmakers enact a 15 percent excise tax, with the profits going to school construction.

State regulators are working out the details of exactly how to tax marijuana now that Colorado residents have voted to legalize it.

The panel made its recommendation Thursday, but the marijuana tax question is far from settled.

Colorado lawmakers could set a lower tax, or they could add sales taxes beyond the current statewide 2.9 percent. Legislators could even create a special new "marijuana tax" for consumers, plus a series of required licensing fees for growers and sellers.

Besides schools, the taxes must fund marijuana safety enforcement and drug education measures.

Any option would have to go back to voters for final approval.

Most Watched Videos