Ask a question from expert

Ask now

Amendment 64 language aimed to treat marijuana similarly to alcohol

3 Pages636 Words278 Views
   

Added on  2019-10-09

About This Document

Most of the people argued that Amendment 64 language is clearly implied, though it did not want that out-of-state and in-state residents are treated identically with regard to retail sales. It can be concluded that Medical Marijuana is suffering from a high tax rate which influences the overall sales growth of it. On the other hand, Marijuana is suffering from 2.9 percent state level sales tax and 4.82 percent local level sales tax. With the low-level tax rate, the Marijuana industry can

Amendment 64 language aimed to treat marijuana similarly to alcohol

   Added on 2019-10-09

BookmarkShareRelated Documents
Amendment 64 mainly developed to treat marijuana similarly to alcohol. Most of the peopleargued that Amendment 64 language is clearly implied, though it did not want that out-of-stateand in-state residents are treated identically with regard to retail sales. It is mainly developed bythe government to repeal a ban on the usage of small marijuana for everyone, whether resident ornot. But out-of-stater can utilize it within the state; then they have permission to purchase it. Butsome other argued that the government should not give permission to out-of-staters to purchasemarijuana. It exactly looked like a red flag that would awake the sleeping giant of federal lawenforcement.The main issue touched on federalism is peripheral. Tax revenue is considered as most attractiveaspects of the amendment for some others. Amendment concludes that the legislature shall enactan excise tax that can be managed without developing an enforcement mechanism. But as per theColorado law, any increment in new tax must be approved by the voters. Kamin (2012) concludethat high taxes would contravene the predetermining outlet of Amendment 64. This is required totreat marijuana more like alcohol. But there is large possibility that high tax on marijuana createsa black market. Due to the availability of black market, the price of taxed and regulatedmarijuana would become higher. In the research paper, the researcher applies the anticipated tax rate to the anticipatedconsumption amount to determine the profitability and consumption power of MMJ users.Marijuana is linked to both local and state sales taxes. The government imposed 15 percentexcise tax on the wholesale growing cost of MMJ purchases (Stiffle 2012). It can be concludedthat Medical Marijuana is suffering from a high tax rate which influences the overall salesgrowth of it. On the other hand, Marijuana is suffering from 2.9 percent state level sales tax and4.82 percent local level sales tax. State level sales tax of Marijuana is lesser than local level sales
Amendment 64 language aimed to treat marijuana similarly to alcohol_1

End of preview

Want to access all the pages? Upload your documents or become a member.