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Colorado to offer one-day tax holiday on marijuana


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Colorado will repeal sales taxes on marijuana Sept. 16, thanks to a quirk in its constitution.

The one-time-only holiday from the 10 percent state sales tax on recreational pot is likely to generate buzz in the first state in the nation to legalize marijuana.

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The little-noticed provision is part of a larger bill that Gov. John Hickenlooper signed into law Thursday that includes a ballot initiative in November and a permanent tax cut on recreational pot sales in 2017.

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"This fiscal glitch that we have with the constitution ... that's part of the magic of living in Colorado," the Democratic governor said.

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Related Story: Colorado to ask voters for state to keep marijuana tax money, marijuana sales tax to drop to 8 percent

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