Colorado Took in More Pot Taxes Than Allowed — Now What? [POLL]

I don’t know a WHOLE lot about marijuana, but I think I’m familiar with the term ‘sticky’ when it comes to pot. In this instance, ‘sticky’ is right on the money.  The state has taken in more taxes from the sales of pot than constitutionally allowed; which, leads to a sticky situation for our lawmakers.

In 1992, we passed the Tax Payers Bill of Rights. This law was created after a bunch of taxes had taken in the amount of money that they were created for, then the excess money went to places that the taxpayers hadn't agreed to.  It is a great law.  But now, the lawmakers are all frustrated because the law is working.

Here’s the deal: There is a 15% tax on marijuana sales, to benefit the school systems. There is also a 10% tax that on pot that the Colorado lawmakers can do whatever they want with (that right there, is bending the Taxpayers Bill of Rights, but we voted that it’s OK). So now, for whatever reason, we now have EXTRA money from the sales of pot in its first year of 2014.Over $30M extra!

What?  ‘What?’ is exactly what the lawmakers are now saying. They don’t want to turn over the extra cash as the Taxpayers Bill of Rights mandates, which would be about $7.50 in refunds for each taxpayer in Colorado.

Better still, is that if they do decide to turn over the excess money, they don’t know if they’re supposed to give the refunds back to only the people who BOUGHT MARIJUANA.

How could they even figure that out? “Uh, if you bought pot in 2014, please come back with your receipt.”

Good grief.

So, the lawmakers are in ‘Oh Crap’ mode, trying to figure out how they can skate the law; thereby not having to go back to the voters for our decision on the matter.

Your tax dollars at work, my friends.

Source: [Coloradoan]