This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at http://www.bbc.co.uk/news/world-us-canada-34272291
The article has changed 3 times. There is an RSS feed of changes available.
| Version 1 | Version 2 |
|---|---|
| Colorado declares tax holiday for marijuana sales | Colorado declares tax holiday for marijuana sales |
| (about 11 hours later) | |
| Colorado has temporarily suspended taxes on marijuana after the US state brought in more tax revenue than anticipated. | Colorado has temporarily suspended taxes on marijuana after the US state brought in more tax revenue than anticipated. |
| The tax will return to 25% on Thursday but state law requires an automatic suspension of any new taxes in the event of an accounting error. | The tax will return to 25% on Thursday but state law requires an automatic suspension of any new taxes in the event of an accounting error. |
| Pot retailers saw large crowds on the pot tax-free day. | Pot retailers saw large crowds on the pot tax-free day. |
| Colorado became the first state in the US to legalise cannabis, after voters approved the change in 2012. | Colorado became the first state in the US to legalise cannabis, after voters approved the change in 2012. |
| The average savings on Wednesday for a $200 ( £128) ounce of marijuana will be about $20 (£13), Fox31 Denver reports, and a regular 2.9% sales tax will still apply, as will taxes on medical marijuana. | The average savings on Wednesday for a $200 ( £128) ounce of marijuana will be about $20 (£13), Fox31 Denver reports, and a regular 2.9% sales tax will still apply, as will taxes on medical marijuana. |
| The temporary tax break could cost Colorado up to $4m (£2.5m) in revenue. | The temporary tax break could cost Colorado up to $4m (£2.5m) in revenue. |
| The tax holiday also benefited retailers who saw customers line up before the stores opened for the day. | The tax holiday also benefited retailers who saw customers line up before the stores opened for the day. |
| "I probably saved $45,000 before lunch," said a smiling Tim Cullen, owner of the Colorado Harvest Co. chain of marijuana dispensaries. | "I probably saved $45,000 before lunch," said a smiling Tim Cullen, owner of the Colorado Harvest Co. chain of marijuana dispensaries. |
| Correction: An earlier version of this story incorrectly stated the cause of the tax holiday. |