Marijuana Tax Money Targeted for Colorado’s Full-Day Kindergarten Rollout

Colorado lawmakers have hit on a funding source to help struggling school districts cover up to $25 million in startup costs as they expand full-day kindergarten this fall: marijuana taxes.

The money is expected to aid districts in rural areas, as well as others short on cash. It would help buy new desks and furniture, fixtures for bathrooms and classrooms, and other equipment schools need as they expand their full-day kindergarten offerings. Continue reading “Marijuana Tax Money Targeted for Colorado’s Full-Day Kindergarten Rollout”

The 2018 Farm Bill – What it Means for Hemp Farmers’ Tax Bill

The Agriculture Improvement Act of 2018 (the 2018 Farm Bill) has officially been signed into law.  One of the major components of this legislation of industrial hemp.  This blog post will mainly focus on what the tax implications of this legalization and contrast tax differences of a federal legal hemp business versus a federally illegal business subject to section 280E.  Continue reading “The 2018 Farm Bill – What it Means for Hemp Farmers’ Tax Bill”

Colorado Sees Average Price of Wholesale Marijuana Rise in Second Half of 2018

Starting Jan. 1, Colorado will reap more tax revenue from wholesale deals involving marijuana intended to be sold to consumers after the average prices of those wholesale products rose in the latter part of 2018.

The Colorado Department of Revenue on Thursday released updated average market rates for marijuana being sold or transferred from retail cultivation centers to recreational pot shops or facilities that make retail products like hash oil and edibles. Those sales and transfers are subject to a 15-percent excise tax. Continue reading “Colorado Sees Average Price of Wholesale Marijuana Rise in Second Half of 2018”

Colorado pot sales hit a record $1.5 billion in 2017, and border towns saw a green rush from neighbors

Colorado marijuana shops raked in a record $1.51 billion sales of medical and recreational cannabis, edibles and concentrate products during 2017, according to Colorado Department of Revenue data released Friday. Continue reading “Colorado pot sales hit a record $1.5 billion in 2017, and border towns saw a green rush from neighbors”

Parts Of Colorado Approve New Marijuana Taxes

Voters in multiple parts of Colorado approved new marijuana taxes that will hike prices for consumers in those areas. Eagle County, Colorado is suffering from mental health and substance abuse issues. They’re hoping the new marijuana taxes that were approved will help fund programs that will save the town. However, it still begs the question: Are taxes on legal marijuana getting too high? Continue reading “Parts Of Colorado Approve New Marijuana Taxes”

Eagle County ballot initiative would create new marijuana tax for mental health funding

Suicide kills an American every 12 minutes — 44,000 Americans every year and 10 in Eagle County so far this year.

“Think about that,” said Andrew Romanoff, with Mental Health Colorado. “If someone attacked the United States and killed an American every 12 minutes and wiped out 44,000 of us in the course of a year, we would declare war.”

“In some ways, we have declared war, and this is a war we can win,” Romanoff said. Continue reading “Eagle County ballot initiative would create new marijuana tax for mental health funding”

Outdated, sagging Colorado schools get $300 million boost from pot sales, other taxes

There is sadness about the eventual destruction of this community’s school, parts of which were built 100 years ago. Many people in this town of 570, long past their teen years, still attend the annual homecoming dance in the school’s gym and reminisce about old flames and football championships. Continue reading “Outdated, sagging Colorado schools get $300 million boost from pot sales, other taxes”

Colorado students given $420,000 in marijuana tax-funded scholarships

Marijuana taxes paid the lion’s share of the new Pueblo County Scholarship Fund that on Tuesday awarded 210 students $2,000 each for the 2017-18 academic year.

But Pueblo County Commissioner Sal Pace said much of the credit is due to the southern Colorado sunshine that blasted those students at the scholarship award ceremony held on the steps of the county courthouse. Continue reading “Colorado students given $420,000 in marijuana tax-funded scholarships”

13 California marijuana dispensaries owe $12 million in taxes, says report

Thirteen medical marijuana dispensaries owe more than $12 million in unpaid state taxes, according to a report recently published by the Board of Equalization.

The list includes several pioneers of the medical marijuana movement, who opened dispensaries not long after California became the first state to legalize weed as medicine in 1996. Continue reading “13 California marijuana dispensaries owe $12 million in taxes, says report”

Mass. Panel Aims to Strike Balance on Cannabis Taxes

The co-chairs of a legislative committee reviewing the state’s new recreational marijuana law said Tuesday that when it comes to taxing sales of the drug lawmakers will look to strike a balance between raising revenue for the state and discouraging the underground market. Continue reading “Mass. Panel Aims to Strike Balance on Cannabis Taxes”