Colorado alters retail marijuana sales tax rate

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The “Sustainability of Rural Colorado” bill (SB 17-267) was signed by Governor Hickenlooper on May 30. Under CRS 39-28.8-202(1)(a)(I), the sales tax for retail marijuana products is increasing from 10% to 15%.

At the same time, newly added CRS section 39-26-729 exempts those products from the 2.9% tangible personal property tax. Previously, retailers had to collect the tangible personal property tax on top of the retail marijuana sales tax. Both of these changes go into effect on July 1, 2017. 

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