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Tax quirk forces Colorado to waive pot taxes for a day

marijuana
Posted at 11:43 AM, Sep 09, 2015
and last updated 2015-09-09 11:43:00-04

DENVER - Think of it as a back-to-school sales tax break, but for stoners.

Colorado's unusual tax law is forcing the state to suspend taxes on recreational marijuana for one day - Sept. 16 - during which a 10 percent sales tax and 15 percent excise tax won't be collected.

The sales-tax break would shave $20 off the price of a mid-grade ounce of pot in the Denver area, where ounces this summer sell for about $200 before tax.

It's unusual for a state that has many times rejected sales-tax holidays on things like school supplies, clothing or energy-efficient appliances. Officials say it could cost the state $3 million to $4 million.

Retailers, meanwhile, are getting ready for an influx of shoppers.