By clicking on the "Accept & Close" button, you provide your explicit consent to the processing of your data to achieve the above goal.
Colorado expects to take in around $50 million in taxes from the first year of legal marijuana sales. It’s a boon for the state, no doubt, since that income simply did not exist before. Pot taxes are considerable at 30 percent of the sales so, while that adds a lot to the cost of lighting up, it has meant a lot to the state coffers as well.
The problem: A law that limits how much tax revenue the state can take in. After a certain amount, they much redistribute excess tax revenue back to the taxpayers. That may mean $30 million — three-fifths of that income — may be sent by check back to residents.
Naturally, that has many residents euphoric — even those who don’t toke.
They shouldn’t be counting on that income quite yet, however, as legislators are busy looking for a way around the law. One option is to hold another referendum to ask Coloradans to exempt income marijuana tax income from the tax limit law. Some argue that the money should be used for services related to the industry such as drug counseling and more police on the streets looking for stoned drives. It’s one of very few times that Democrats and Republicans are united on a tax issue.
Authorities estimate the redisbursement this time around to be less than $8 per adult, all the more reason, some say, to let the state use the money for expanded services.
Arcview Market Research has found that profits from legal marijuana sales reached $2.7 billion in 2014 around the country. making the industry one of the fastest-growing in the U.S. That means new jobs and new revenue opportunities for states that may legalize.
This wouldn’t be the first time state officials have had to send money back to taxpayers. The revenue limiting law went into effect in the early 90s and, since then, they have cut rebate checks six times for a total of $3.3 billion.
If the state does hold a referendum, it would be the third related to the marijuana industry. The first legalized sales and the second authorized a 15 percent excise tax on pot for schools in addition to a 10 percent sales tax for other discretionary expenditures.
The state could also just lower taxes on pot sales since they don’t need a referendum to lower taxes, only raise them. Certainly, smokers would appreciate that.
The fact of registration and authorization of users on Sputnik websites via users’ account or accounts on social networks indicates acceptance of these rules.
Users are obliged abide by national and international laws. Users are obliged to speak respectfully to the other participants in the discussion, readers and individuals referenced in the posts.
The websites’ administration has the right to delete comments made in languages other than the language of the majority of the websites’ content.
In all language versions of the sputniknews.com websites any comments posted can be edited.
A user comment will be deleted if it:
does not correspond with the subject of the post;
promotes hatred and discrimination on racial, ethnic, sexual, religious or social basis or violates the rights of minorities;
violates the rights of minors, causing them harm in any form, including moral damage;
contains ideas of extremist nature or calls for other illegal activities;
contains insults, threats to other users, individuals or specific organizations, denigrates dignity or undermines business reputations;
contains insults or messages expressing disrespect to Sputnik;
violates privacy, distributes personal data of third parties without their consent or violates privacy of correspondence;
describes or references scenes of violence, cruelty to animals;
contains information about methods of suicide, incites to commit suicide;
pursues commercial objectives, contains improper advertising, unlawful political advertisement or links to other online resources containing such information;
promotes products or services of third parties without proper authorization;
contains offensive language or profanity and its derivatives, as well as hints of the use of lexical items falling within this definition;
contains spam, advertises spamming, mass mailing services and promotes get-rich-quick schemes;
promotes the use of narcotic / psychotropic substances, provides information on their production and use;
contains links to viruses and malicious software;
is part of an organized action involving large volumes of comments with identical or similar content ("flash mob");
“floods” the discussion thread with a large number of incoherent or irrelevant messages;
violates etiquette, exhibiting any form of aggressive, humiliating or abusive behavior ("trolling");
doesn’t follow standard rules of the English language, for example, is typed fully or mostly in capital letters or isn’t broken down into sentences.
The administration has the right to block a user’s access to the page or delete a user’s account without notice if the user is in violation of these rules or if behavior indicating said violation is detected.