Accounting, Tax, IRS & Marijuana

Colorado Raises Retail Marijuana Sales Tax Rate from 10% to 15%

In a move that will affect hundreds of marijuana businesses in the state, Colorado’s governor signed a bill into law that will raise the retail cannabis sales tax from 10% to 15%.

The tax hike – which potentially could damp retail cannabis sales – is part of a broader legislative package to fund Colorado’s rural hospitals, schools and roads, Colorado Springs TV station KRDO reported.