Reuters: U.S.: Colorado legislature passes bill to tax recreational pot

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Colorado legislature passes bill to tax recreational pot May 8th 2013, 18:31 DENVER | Wed May 8, 2013 2:31pm EDT DENVER (Reuters) - The Colorado legislature took a major step toward implementing the state's marijuana law on Wednesday, passing a bill to impose a tax on sale of recreational pot and sending it to the governor for approval. The proposal, which passed the state House of Representatives and the state Senate on the last day of the legislative session, would levy a 15 percent excise tax on retail pot sales, and an additional 10 percent statewide sales tax on the drug. The governor was expected to sign the measure, which will still require voter approval. Along with Washington state, Colorado voters last fall approved the use of recreational marijuana, and directed lawmakers to craft a framework to regulate and tax pot.

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