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Denver sets marijuana sales tax

By Associated Press
Published On: Aug 27 2013 11:00:12 AM CDT

MGN Online / KRDO.com

DENVER -

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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