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New Tax Can Legitimize the Industry

Todd Davis - Sunday, February 28, 2010

Colorado state senate is reviewing Bill 1284, which will impose an excise tax onto Colorado medical marijuana. This excise tax would be very similar to the tax imposed on alcohol. Although this might initially sound like a blow to the industry, it is actually a step towards legitimacy. Taxation of this sort implies the industry will be allowed to remain public and flourish. If the bill passes in the senate, it will be up to voter's approval. Colorado medical marijuana dispensaries could be looking at a brighter future if this tax passes; legitimate tax means legitimate business. There is still a long road ahead, especially when it comes to the federal government's view of Colorado medical marijuana. Bill 1284, however, could very possibly be the tax law voters and proprietors have been waiting for.

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