Colorado Cannabis Stores Can Save Money By Paying Taxes Early

   

The cannabis industry in Colorado is a model for the rest of the country, and for the rest of the world for that matter. There are few other industries in America that are as willing to go the extra mile as the cannabis industry, especially in Colorado.The marijuana understands that the world is watching and are very cognizant of the need to prevent voter backlash and federal intervention.  I think people would be hard pressed to find another industry that is as compliant and willing to jump through hoops as the cannabis industry, even when those hoops are unfair.

A prime example of this is in Colorado, where numerous cannabis stores are getting to keep some of their sales tax revenues because they are paying their share to the tax man promptly. Per The Cannabist:

Colorado’s cannabis shops, on the hook for higher taxes than traditional retailers, are nonetheless reaping more than half a million dollars in rebated sales-tax revenue in 2014 thanks to timely payment to the tax man.

The refunded money from the state’s so-called vendor fee, a 79-year-old agreement the state made with its businesses, suggests the state’s marijuana businesses are achieving an important goal, that of becoming more establishment, despite the extra hurdles they face in the marketplace.

Colorado is being rewarded every month with extra tax revenues generated by the cannabis industry because the state decided to take a sensible approach to cannabis laws. Thousands of people have jobs in Colorado because of the cannabis industry. Those people spend their paychecks in their communities, which boosts the local economy that they shop in. Law enforcement is now freed up to pursue real criminals. Add to that the fact that teen cannabis use has decreased, and road fatalities are at an all time low in Colorado, prohibitionists’ Reefer Madness arguments will ultimately fail, and we will only see more states legalize marijuana in the coming years. 

Anthony Johnson

Anthony, a longtime cannabis law reform advocate, was Chief Petitioner and co-author of Measure 91, Oregon's cannabis legalization effort. He served as director of both the New Approach Oregon and Vote Yes on 91 PACs, the political action committees responsible for the state's legalization campaign. As director of New Approach Oregon, Anthony continues to work towards effectively implementing the cannabis legalization system while protecting small business owners and the rights of patients. He sits on the Oregon Marijuana Rules Advisory Committee and fights for sensible rules at the legislature as well as city councils and county commissions across the state. Anthony helps cannabis business comply with Oregon's laws and advises advocates across the country. He also serves as content director of both the International Cannabis Business Conference and the Oregon Marijuana Business Conference, helping share the vision of moving the cannabis industry forward in a way that maintains the focus on keeping people out of prison and protecting patients. He was a member of the Oregon Health Authority Rules Advisory Committee, assisting the drafting of the administrative rules governing Oregon’s state-licensed medical marijuana facilities. He first co-authored and helped pass successful marijuana law reform measures while a law student at the University of Missouri-Columbia School of Law. He passed the Oregon Bar in 2005 and practiced criminal defense for two years before transitioning to working full-time in the political advocacy realm. His blogs on Marijuana Politics are personal in nature and don't speak for or reflect the opinions of any group or organization.