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Colorado Marijuana Law: Bill To Tax Pot Headed to Governor

By Newsmax Wires   |   Thursday, 09 May 2013 11:23 AM

Legislators in Colorado passed a bill that would impose a tax on the sale of recreational pot, sending it to the governor's desk for approval, a major step in implementing the marijuana law, Reuters reported.

The proposal, which passed the state House of Representatives and the state Senate on the last day of the legislative session, would levy a 15 percent excise tax on retail pot sales, and an additional 10 percent statewide sales tax on the drug.

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The measure still requires voter approval, even if the governor signs it. Along with Washington state, Colorado voters last fall approved the use of recreational marijuana, and directed lawmakers to craft a framework to regulate and tax pot.

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