PUEBLO, Colo. (KRDO) – A Pueblo city councilman, Vicente Martinez Ortega, is introducing an ordinance that would reduce the marijuana excise tax from 8% to 0% for a three-year period.
According to the ordinance proposal, imposing an excise tax on marijuana has adversely affected the industry. While there were previously many jobs associated with growing and harvesting marijuana, they are now very few, according to the ordinance proposal.
Some believe that suspending the retail marijuana excise tax will enhance economic development by increasing the competitiveness of existing businesses located in the City.
A worker at a dispensary in Pueblo said she would like to see the excise tax eliminated.
“It would be better for the business in the long run because they don’t have to pay back more,” said Xandria Alarcon, a worker at The Spot.
Council member Dennis Flores said there are less than 10 marijuana stores in city limits. He said he does agree that there is room for the tax to be lowered. However, he does not believe it should be 0%.
According to the city of Pueblo, the marijuana excise tax has generated nearly $160,000 in 2022. That money was put into the general fund and used towards other projects throughout the city that were voted on by the council.
Flores said he would like to see the tax reduced in half instead so the city is still generating some money.
This will be voted on during the first reading Mon. Dec 11 at city…