NewsBite

Marijuana tax hol saves growers

COLORADO'S marijuana growers - and shoppers - have saved a packet in a one-day tax holiday on the product.

COLORADO'S marijuana growers were the big winners when the state suspended new recreational pot taxes for a day, a tax quirk that saved shoppers some sales tax but saved wholesalers tens of thousands.

PROMPTED by a quirk in state tax law, the one-day tax suspension allowed growers to transfer a month or more of inventory without paying 15 per cent excise taxes, or $US300 ($A418.32) a pound.

Original URL: https://www.news.com.au/finance/business/marijuana-tax-hol-saves-growers/news-story/650f9aada18771bfc121660d7d3979ad