Denver Sets Marijuana Sales Tax
KREX News Room
DENVER (AP) - The Denver City Council has decided to allow stores to sell both medical and non-medical marijuana without requiring physical barriers in the shops and also set a proposed 3.5 percent tax rate.
The 3.5 percent sales tax set Monday must still be approved by voters in November. It is expected to raise $3 million a year to pay for regulation, enforcement and education about the new industry. If approved, the tax could be able to be raised as high as 15 percent without a public vote.
The Denver Post reports (http://tinyurl.com/mzf4hxs ) new licensing requirements will give neighbors a chance to raise concerns about public safety, health and welfare of the neighborhood at mandatory public hearings before medical marijuana centers can convert to selling retail marijuana.