Denver dispensaries are expecting long lines and record sales on Wednesday September 16th during the Marijuana Tax Holiday. Marijuana users will have the chance to shop tax-free at dispensaries all over Colorado for one day thanks to the excess taxes collected over 2014, and 2015. This marijuana holiday will suspend the 10% tax on recreational sales, saving an estimated $100,000 in revenue to even out the numbers. The regular 2.9% sales tax will still apply at most dispensaries. Northern Lights is suspending the sales tax to give customers even bigger savings in celebration of their grand reopening.
On Wednesday, cannabis consumers will flock to dispensaries in Denver, and other Colorado cities and towns to cash in on this one time deal. Many dispensaries are offering Black-Friday-like deals to draw in the highest number of sales possible. This is most likely the only time this will happen within marijuana legalization. Recreational and medical marijuana users are already plotting their destination points on the 16th.
Customers are not the only ones looking to cash in on this tax holiday. Edible companies that buy trim will be able to buy tax-free also, and the transfer fee that dispensaries pay when distributing product from warehouses to stores, will also be waived. Dispensaries are set to save thousands if their transfers and business practices are planned correctly.
The excess of $58 million in marijuana taxes collected since Colorado legalized marijuana is what prompted this one-day deal. In November, Coloradans will vote on what to do with the surplus taxes. The initiative outlines that if the state were allowed to keep the money, the first $40 million would go towards school construction. The rest would go toward funding marijuana awareness programs for youth, drug-abuse treatment plans, and enforcement. If taxpayers choose to have the millions refunded, a majority would go to back to marijuana companies and consumers in the form of further tax reductions. The other millions would be returned to Colorado citizens. This comes out to roughly $6.18 for each resident in the state.
Northern Lights Cannabis Co., home of the first legal recreational sale, is holding their grand reopening on September 16th. Stop in and get some awesome tax free specials on both recreational and medical sales. Enjoy the one day suspension of the 18% recreational tax, and 8% off all medical products and accessories!
The Northern Lights medical marijuana side will also have $130 ounce specials on select strains, and an added 10% off select concentrates and edibles. Come into Northern Lights Cannabis Co. in Edgewater, Colorado anytime before 10pm Sunday through Thursday, and midnight on Fridays and Saturdays.
Read more on Wednesday’s Marijuana Tax Holiday.
