Denver sets marijuana sales tax
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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