Denver sets marijuana sales tax

By: Associated Press Email
By: Associated Press Email

Highlights

• For the first two years, the city will allow only established medical marijuana businesses to convert to retail marijuana shops with mandatory public hearings.

• Medical and retail marijuana can be sold in the same store without a physical barrier, which had been called for in an earlier version.

• Retail marijuana shops in Denver can operate from 8 a.m. to 7 p.m., despite a state law that allows them to be open until midnight.

• Public hearings will be required when existing medical marijuana shops convert. But the hearings won't be as strict as liquor licenses, which determine whether neighborhoods need or desire that a liquor license be issued.

 

DENVER, Colo. (AP) The Denver City Council has decided to allow stores to sell both medical and nonmedical 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 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.


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