Consumers and businesses have been given a bit of good news
This past Tuesday, the City Council of Craig, CO got together in one of its regular meetings. On the agenda, among other items, was what to do about sales and excise taxes for the local cannabis industry. By the time the meeting was over, the council members had reached an agreement, and it was welcome news for the industry.
The City Council decided not only to not raise the taxes, but to lower them. This November, voters will take to the polls on a number of marijuana-related issues and, depending on how those votes go, Craig’s marijuana ordinance could cap any additional sales tax at just 4%, while completely eliminating excise tax.
The subject has come up for debate at several of the council’s meetings recently, with some pushing for a higher tax. The 5% wasn’t enough and at least one council member, Chris Nichols, wanted to push it up to 10%. He explains, “They may look at this down the road as a means to fund the city.”
The issues to be put on the ballot this November revolve around the sale of retail marijuana and related products at Craig dispensaries, included in ordinance 1096, and retail cultivation, manufacturing, testing and storage, part of ordinance 1097. If both of those are approved, they would pave the way for ordinance 16, which is designed to regulate the local industry and create language to define boundaries, licenses and other related policies.
The City Council will continue discussing how to move forward with recreational marijuana when it meets again on September 10 for a marijuana workshop.