Pot taxes in Colorado could exceed 30 percent

POSTED: 08:30 AM MDT Apr 06, 2013 
Marijuana
DENVER -

Marijuana in Colorado could be taxed at rates above 30 percent. That's according to a panel of state lawmakers that agreed Friday to ask voters to approve a 15 percent excise tax, plus a 15 percent sales tax on the newly legal drug.

Those taxes would be in addition to the statewide 2.9 percent sales tax and any additional local sales taxes.

The tax proposals came from a House-Senate committee that has been reviewing proposals on how marijuana should be regulated.

The panel also agreed Friday to limit pot purchases by out-of-state visitors to an eighth of an ounce. Residents could buy a quarter of an ounce.

The marijuana committee concludes work Monday. Lawmakers will consider whether pot sellers should have to grow most of their product.