CO HB1062

Repeals the general state sales tax exemption for retail marijuana sales, effective March 1, 2018, making marijuana sales subject to state general sales tax.

Reduces the retail marijuana sales tax rate from 15% to 12.1%, effective March 1, 2018, so total state tax burden on marijuana purchases remains unchanged.

Repeals local governments' authority to create their own exemptions for retail marijuana sales that were exempt from state general sales tax under prior law.

Clarifies that voters have already approved limited purpose governmental entities' authority to tax marijuana sales since it will be included in the general category of items subject to state sales tax.

Takes effect upon passage except sections repealing exemptions take effect March 1, 2018.