The Denver City Council has officially determined that a sales tax of 3.5 percent will be placed on a citywide ballot for voters to decide on this November which is on top of a 25 percent statewide sale and excise tax that is slated to be on the same ballot.
Those in support of taxing the recreational marijuana marketplace claim these taxes will generate necessary revenue, while those opposing said taxes proclaim that the heavy taxing of marijuana retailing will merely perpetuate the black market.
“People will buy their marijuana wherever it’s cheaper,” declared 4/20 rally community organizer Miguel Lopez. “The tax situation will definitely return it to the black market system.”
Denver City Councilman Charlie Brown feels that Lopez’s proclamations are presumptuous and sturdily disagrees.
“I do not believe that. That’s a false argument,” Councilman Brown avowed. “The black market is an illegal criminal activity. And we need to remind people of that and we need to clamp down on it.”
Will the taxation of the retailing of recreational marijuana send people searching for cheaper deals from the local flowers facilitator or will they succumb to the added taxes to avoid illegal activities? Only time will tell.
In October, Denver lawmakers will be addressing the licensing of recreational marijuana retail establishments.
Stay with The 420 Times for any new developments regarding the recreational marijuana marketplace in Colorado and for all the latest marijuana community news! Check The 420 Times at www.The420times.com
