Colorado recreational marijuana prices may rise if voters OK tax hike

Colorado recreational marijuana prices may rise if voters OK tax hike

Author: mjbizdaily

A ballot question is going before Colorado voters in November that, if successful, would raise the state taxes on recreational marijuana products and potentially create a new barrier for adult-use sales.

The measure, Initiative 25 – also called the Learning Enrichment and Academic Progress Program Initiative (LEAP) – was approved for the Nov. 2 election by the secretary of state this week, the Colorado Sun reported.

If voters approve the measure to help fund education, a new 3% sales tax would go into effect Jan. 1, 2022, which would increase to 5% by January 2024.

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