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Yes, CO has a tax free day on cannabis only. My understanding is they reaped too much in taxes and their laws are such that they have to give the overage back.
by Zelphyr 11y ago
Yes, CO has a tax free day on cannabis only. My understanding is they reaped too much in taxes and their laws are such that they have to give the overage back. The tax-free day is a way to do that.
- omni 11y agoThat's some bizarre logic. Tax-free day doesn't "give back" anything, it just slows down the rate at which they exceed what they thought was acceptable.
- kej 11y agoYou're both right. There's a tax-free day to slow down the amount of tax brought in, but state law does require returning unexpected tax windfalls that exceed inflation and population growth. Wikipedia has a good overview: https://en.wikipedia.org/wiki/Taxpayer_Bill_of_Rights https://en.wikipedia.org/wiki/Taxpayer_Bill_of_Rights