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Tag Archive for Marijuana Tax

TaxConnections Announces 500,000 Taxpayers Meet Tax Experts During Internet Summit

During July 2015, TaxConnections will bring together 500,000 Taxpayers and Tax Experts in the first internet tax summit of this kind.

With the number of taxpayers calls taken by the IRS dropping to an estimated 38.5% this year, taxpayers need more answers than they are currently receiving. TaxConnections mission is bringing visibility to our tax professional members and connecting them to taxpayers who need their help!

Based upon polling, we are currently talking to speakers and sponsors on the following topics: Small Business, Internet Tax, FATCA, Tax Audits, Marijuana Tax, Healthcare Tax, Cadillac Tax and more…

If you would like to participate in this very exciting 500,000 Taxpayers and Tax Experts Internet event, please contact Kat@taxconnections.com today! Or, call 858-999-0053.

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Colorado Enacts Pot Tax

Colorado clearly does not stick to the trends. Whether it is legalizing marijuana or attempting to get Northern Colorado to become the 51st state, Colorado has been all over the news during the past year. Recently, the state had on its ballot an interesting tax that stayed in line with Colorado’s unusual politics. Specifically, on November 5, 2013, Colorado voters passed the pot tax.

On its face, the tax appears to operate similar to somewhat steep excise tax. It appears that recreational marijuana sales will be subject to a 25% tax which goes into effect on January 1, 2014. Of the 25%, 15% will be allocated to public school construction projects and 10% will go to funding enforcement regulation on the retail pot sales. This excise tax, which is similar to tobacco and cigarette taxes, is in addition to 2.9% sales tax at the retail level. Read more