Pot taxes in Colorado could exceed 30 percent

Published April 6, 2013 12:55am ET



DENVER (AP) — A legislative panel decided Friday that marijuana in Colorado could be taxed at rates above 30 percent. But voters would have to OK the taxes, and some lawmakers fear the state’s tax-skeptical public could reject such high rates.

A House-Senate panel set up to propose marijuana regulations agreed to ask voters to approve a 15 percent excise tax, plus a 15 percent sales tax on the newly legal drug. If the full Legislature agrees, voters would be asked about the taxes in November. Commercial pot sales begin in January.

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