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Thread: Colorado Voters Approve Hefty Marijuana Taxes

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    Dolphins9954's Avatar
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    Colorado Voters Approve Hefty Marijuana Taxes

    Yesterday Colorado voters overwhelmingly approved Proposition AA, which authorizes a 15 percent excise tax and a special sales tax of up to 15 percent (initially set at 10 percent) on marijuana products sold by the state-licensed stores that are scheduled to open next year. The margin, 65 percent to 35 percent, was almost exactly the same as the margin by which voters rejected an income tax hike aimed at boosting funding for public schools. Most of the annual revenue from the marijuana excise tax—the first $40 million—likewise is earmarked for a school construction fund. Since marijuana consumers currently are a relatively small minority (around 12 percent of the population), these results are not terribly surprising. Given the choice, voters will always prefer that other people pick up the tab for their stuff. If legislators take full advantage of their new tax authority, marijuana in Denver, the center of the retail cannabis industry, will be hit by a 15 percent excise tax plus sales taxes totaling 38 percent (including standard and special state and local taxes). With taxes that high, the state-licensed outlets may have trouble competing with the black market and with homegrown marijuana. (Colorodans are allowed to grow up to six plants at home and share the produce, one ounce at a time, "without remuneration.") Legislators may find that if they set taxes too high, the result will be less revenue rather than more
    http://reason.com/blog/2013/11/06/vo...rados-most-hea



    Colorado is about to get a lesson on economics, taxes and the black market.





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    Hard to get upset over one of the reasons stated to decriminalize, "legalize and tax it". There is now surprise government would highly tax something? Costs higher than before, don't know. But if higher state now has a reason to keep illegal pot enforcement funding on the books in illegal black market enforcement. Wonder if we'll get a tv show out of it..."Marijuana Moonshiners".
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    Quote Originally Posted by Eshlemon View Post
    Hard to get upset over one of the reasons stated to decriminalize, "legalize and tax it". There is now surprise government would highly tax something? Costs higher than before, don't know. But if higher state now has a reason to keep illegal pot enforcement funding on the books in illegal black market enforcement. Wonder if we'll get a tv show out of it..."Marijuana Moonshiners".
    Yeah was thinking the same thing. By having these high taxes it ensures the black market is still alive and well. Thus giving reason to continue the "War On Drugs" and police funding for it. Win-Win for the state. Not so much for the market.
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    I checked a few websites of Dispensaries in Colorado and the going rate seems to be about 8$ a gram (give or take). Perhaps CO can confirm this for me. 8$ a gram is still lower than most Black Market prices, though. 15$ a gram is pretty standard, and 10$ a gram is a fairly good deal, and most of the time the stuff you buy on the street doesn't compare to what the Dispensaries sell. A five percent tax hike isn't going to inflate prices that much, and take it from someone who's bought weed illegally from (mostly) d-bags on the street his whole life, I'll gladly pay the extra five percent so I can walk into a air-conditioned store and legally purchase weed that doesn't have a loose hair somewhere in it because of poor handling and drug-dealers universal refusal to wear hair-nets.

    Some people will grow it (I would), but it's an incredibly fallacious belief that allowing people to grow their own will cripple the legal markets. Just look at California; they have a thriving medical industry right now. Sure, some people will grow their own and God bless them, but the vast majority of the people will just go down to the store and buy some.

    I did get a kick out of this sentence, though.
    boosting funding for public schools. Most of the annual revenue from the marijuana excise tax—the first $40 million—likewise is earmarked for a school construction fund.
    The Devil's Grass is building Schools now.
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    That sounds about right. And yes nothing holds a candle to what the dispensaries put out. OG Kush and some earwax from those places would put you right on your ass. I forgot to send my ballot in for this one though. Wouldn't have mattered. The dispensaries will still be around in my area as the local idiot faction broadcast enough ignorance to not allow this locality to sell it recreationally. Oh well. Guess all that business will just have to go to other counties.
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    The average Colorado pot retail store is expected to sell an ounce of marijuana for $200, according to Brian Vicente, a marijuana reform lawyer in Denver and chairman of the Yes on Proposition AA campaign. With the excise tax, that gets raised to $230; with the special sales tax, it goes up to $250. Toss on state and local taxes, and it's even more.
    http://usnews.nbcnews.com/_news/2013...egal-marijuana

    That's around $60 or more in taxes for an ounce. Could be even more depending on the grade of pot and prices. Now Cophin makes a good point that the bud is kush. But can the Black Market make that kush at a far cheaper price?? I currently get my stuff from the black market and it's really good. Also that price for an ounce seems cheap for kush or hydro. I wonder if that price is for more middle grade weed? Cophin you would know.
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    Quote Originally Posted by Dolphins9954 View Post
    http://usnews.nbcnews.com/_news/2013...egal-marijuana

    That's around $60 or more in taxes for an ounce. Could be even more depending on the grade of pot and prices. Now Cophin makes a good point that the bud is kush. But can the Black Market make that kush at a far cheaper price?? I currently get my stuff from the black market and it's really good. Also that price for an ounce seems cheap for kush or hydro. I wonder if that price is for more middle grade weed? Cophin you would know.
    300 an ounce is a pretty standard price on the Black Market (I get mine for a bit less). If the quality is really good it's usually even higher (325, 330, 350, etc). For some people that's even really cheap. I have a friend in a small city in Northern Florida who has to pay 20$ a gram (meaning upwards of 500$ for an ounce).

    I don't think it's a big deal. The people who want to grow it will grow it, and the rest of the people will just be pleased they can purchase the best quality weed on the planet from non-teenage punks who won't short you a gram and hope you don't notice or have a scale (always bring a scale).
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    Here is the kicker. Local governments can tack on more taxes on top of the state tax. So I voted yes for the state tax, but no to the Pueblo County tax.
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    Quote Originally Posted by rob19 View Post
    300 an ounce is a pretty standard price on the Black Market (I get mine for a bit less). If the quality is really good it's usually even higher (325, 330, 350, etc). For some people that's even really cheap. I have a friend in a small city in Northern Florida who has to pay 20$ a gram (meaning upwards of 500$ for an ounce).

    I don't think it's a big deal. The people who want to grow it will grow it, and the rest of the people will just be pleased they can purchase the best quality weed on the planet from non-teenage punks who won't short you a gram and hope you don't notice or have a scale (always bring a scale).
    In the end price still matters. Let's say the legal stuff after taxes and all that is $100 more than the black market stuff. I'm still going black market. Most consumers get their stuff from people they've known for awhile. For me I've been going to the same guy for 10 years. In order for me to stop going the black market route, the legal stuff would have to be comparable or cheaper in price and better in quality. These high taxes will only ensure the black market will still be up and running. But it all comes down to the numbers. What is the price for good quality kush or dro for an ounce after taxes?? Then compare the difference in price to the black market. I'm getting all kinds of different numbers. Maybe if Cophin or Shifty could give us prices.

    I will say this though....anyone who buys $20 grams all the time is an idiot. Buy a quarter or half ounce at least. Will save you tons of money.
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    Quote Originally Posted by Dolphins9954 View Post
    In the end price still matters. Let's say the legal stuff after taxes and all that is $100 more than the black market stuff. I'm still going black market. Most consumers get their stuff from people they've known for awhile. For me I've been going to the same guy for 10 years. In order for me to stop going the black market route, the legal stuff would have to be comparable or cheaper in price and better in quality. These high taxes will only ensure the black market will still be up and running. But it all comes down to the numbers. What is the price for good quality kush or dro for an ounce after taxes?? Then compare the difference in price to the black market. I'm getting all kinds of different numbers. Maybe if Cophin or Shifty could give us prices.

    I will say this though....anyone who buys $20 grams all the time is an idiot. Buy a quarter or half ounce at least. Will save you tons of money.
    You just told me it'd be around 260$ an ounce, which is a GREAT price on the black market. Let alone for the best quality bud in America from legal and reputable vendors.

    I also just checked a couple of Colorado dispensary websites, and I've seen prices as low as 170$ an ounce. There still might be a few Mom and Pop shops that grow a few plants in their basement (even so, I'm not sure how you beat 170$ an ounce and make any real money), but by and large, taxes or no taxes, I imagine it's virtually a non-issue at this point.

    https://weedmaps.com/dispensaries/in/colorado/boulder
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