Recreational marijuana was legalized in Colorado last year, and in a vote on Tuesday night, citizens decided that it should be taxed. The decision will impose a 15% tax, from which funds will be used for new schools, as well as a 10% sales tax. The 10% will go towards the enforcement of proper marijuana regulations when it becomes legal to sell.
65% of voters supported the tax, while 35% opposed it. Less opposition arose than was expected, and that is likely due to the amount of money the tax will bring to the state. The Colorado Legislative Council reports that there will be around $70 million collected for the state next year.
However, some people do feel that the tax is excessive. “There are two main things that could incentivize the black market and make it survive or thrive,” said Rachel Gillette, executive director of the Colorado chapter of the National Organization for the Reform of Marijuana Laws. “That’s going to be excessive taxation, which makes the price of marijuana at the store a lot higher than the price of marijuana on the street, and then also the ban in local communities of retail sales. … It’s akin to a dry county.”
