HB 18-1062

Abstract

On March 1, 2018, the bill repeals the general state sales tax exemption for sales of retail marijuana and reduces the retail marijuana sales tax by 2.9% from 15% to 12.1%. With the repeal of the state exemption, sales of retail marijuana will automatically be subject to the sales tax levied by a limited purpose governmental entity whose sales tax authority is the same as the state. Currently, statutory municipalities and counties are authorized to create an exemption for sales of retail marijuana that are exempt from the state general sales tax. Along with the repeal of the state exemption, this contingent authority is repealed. (Note: This summary applies to this bill as introduced.) , Read More