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Colorado Residents May Get Weed Refund

© Flickr / YuHColorado collected around $50 million in recreational cannabis tax revenue in 2014 — the first year of sales to adults 21 and over.
Colorado collected around $50 million in recreational cannabis tax revenue in 2014 — the first year of sales to adults 21 and over. - Sputnik International
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Colorado residents may be due a share of the state’s marijuana taxes.

According to the governor’s budget writers, $30m could be returned to Coloradans in tax refunds.

When voters legalized marijuana sales in 2012, they intended to raise state revenue for public schools.

"I have no problem paying taxes if they're going to schools," says one shopper.

Another one finds taxes that add 30% or more to the price of pot to be too steep.

"I don't care if they write me a check, or refund it in my taxes, or just give me a free joint next time I come in. The taxes are too high, and they should give it back," he says.

It’s been one year since Colorado legalized pot. - Sputnik International
Rocky Mountain High: One Year After Weed Became Legal in Colorado

A 1992 voter-approved constitutional amendment put limits on the amount of money the state could keep, which means Colorado residents are now in line for a tax refund due to robust marijuana sales. 

Colorado collected around $50 million in recreational cannabis tax revenue in 2014 — the first year of sales to adults 21 and over. 

Lawmakers find repaying residents weed taxes unreasonable, they are trying to find loopholes to escape the reimbursement. 

Some proposed asking Colorado voters to cast a ballot on exempting pot taxes from the refund requirement. 

“I think it’s appropriate that we keep the money for marijuana that the voters said that we should,” said Republican Senate President Bill Cadman.

Republicans and Democrats are still deciding whether to refund all residents or just pot buyers.

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