Law360 (Aug. 2, 2021, 7:14 p.m. EDT) – Supporters of an election initiative in Colorado calling on voters to increase state sales tax on retail cannabis and use the money on tutoring and after-school programs said they had 200,000 submitted signatures to the Colorado Secretary of State.
Initiative 25 supporters said they submitted the petition to the foreign minister on Friday. The proposal would impose an additional 3% tax on retail marijuana from 2022. The state already levies a 15% tax on marijuana sales by retailers. The additional tax would be increased to 4% in 2023 and to 5% from 2024, according to the final text of the proposal ….
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