Colorado Lawmakers Approve High Marijuana Tax Rates

After a long debate, Colorado legislators have approved the high marijuana tax rates of 15% excise tax and 10% sales tax, this is down only slightly from the original proposed rates of 15% for each. While this is quite a high tax rate, businesses should still be able to provide marijuana cheap enough to avoid much of a black market in my opinion. However, hobby growers may (illegally) undercut those prices, more to unload their surplus and cover costs than to make a profit.