Pot to be Sold Tax-Free in Colorado...For One Day

danjoseph | September 16, 2015

If you're a pot lover and live in Colorado, Wednesday might be a good day for you to hit up your local weed shop.

For one day only, Colorado is waving the tax on recreational marijuana and pot shop owners are expecting big crowds.

The tax holiday is the byproduct of a portion of Colorado's marijuana law requiring that any new taxes be waived and refunded if overall state collections exceed projections given to voters when they initially approved the new taxes.

Because the pot taxes which the state took in this year exceeded projections, the state is offering the tax holiday in an effort to lower the tax revenues so that the state does not  have to go back and ask voters for permission to keep taxing pot, again in the new fiscal year. 

 

While pot connoisseurs and proprietors are giddy in their anticipation of this unique buying opportunity there is no word as to whether the state's convenience stores are prepared for inevitable spike in sales of Doritos and Chips Ahoy! cookies.