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 ca