Colorado Springs News, Sports & Business

Denver sets marijuana sales tax

The Associated Press- Published: August 27, 2013 0

DENVER — The Denver City Council has decided to allow stores to sell both medical and nonmedical marijuana without requiring physical barriers in the shops and also set a proposed 3.5 percent tax rate.

The 3.5 percent sales tax set Monday must still be approved by voters in November. It is expected to raise $3 million a year to pay for regulation, enforcement and education about the new industry. If approved, the tax could be able to be raised as high as 15 percent without a public vote.

The Denver Post reports (http://tinyurl.com/mzf4hxs ) new licensing requirements will give neighbors a chance to raise concerns about public safety, health and welfare of the neighborhood at mandatory public hearings before medical marijuana centers can convert to selling retail marijuana.

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Information from: The Denver Post, http://www.denverpost.com

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