Three state taxes apply to marijuana, but medical and retail marijuana are taxed differently. Both medical and retail marijuana are subject to the 2.9 percent state sales tax, which is applied to most purchases in the state. Tax revenue collected from the sale of marijuana is deposited in two different funds: the Building Excellent Schools Today (BEST) Fund and the Marijuana Tax Cash Fund (MCTF)
An enterprise is a self-supporting, government-owned business that receives revenue in return for the provision of a good or service. An enterprise may receive up to 10 percent of its annual revenue from state and local government sources. Otherwise, an enterprise must be financially independent of any government. In addition, an enterprise must have bonding authority.
An enterprise is a self-supporting, government-owned business that receives revenue in return for the provision of a good or service. An enterprise may receive up to 10 percent of its annual revenue from state and local government sources. Otherwise, an enterprise must be financially independent of any government. In addition, an enterprise must have bonding authority.
This memorandum presents information on emergency fiscal provisions in Article X, Section 20, of the Colorado Constitution (TABOR). Specifically, it discusses the emergency reserve and emergency taxation provisions contained in subsections (5)and (6) of TABOR, respectively.
This memorandum presents information on emergency fiscal provisions in Article X, Section 20, of the Colorado Constitution (TABOR). Specifically, it discusses the emergency reserve and emergency taxation provisions contained in subsections (5)and (6) of TABOR, respectively.
Revenue collected in excess of the constitutional revenue limit, or TABOR limit, must be refunded to taxpayers unless voters authorize retention of the excess amount. This memorandum presents information on this constitutional requirement and its administration at the state level.
This memorandum provides an overview of the transfers and economic triggers created in Senate Bill 09-228. Senate Bill 09-228 altered the limit on General Fund appropriations, created future transfers from the General Fund to transportation and capital construction, and increased the General Fund statutory reserve in future fiscal years.
This memorandum provides a checklist of items to consider when evaluating legislation that creates or alters a tax expenditure. The items provided are listed under the following headings: incentives matter; distribution of income; ease of taxpayer compliance; transparency; Taxpayer's Bill of Rights (TABOR) and the General Fund budget; local government impacts; and ease of administraton.
