In an opinion that could generate more revenue for cash-strapped governments and give additional legitimacy to a fledgling industry, Colorado Attorney General John Suthers said Monday that the state can collect sales tax on medical marijuana. “Medical marijuana is tangible property that is generally subject to state sales tax,” Suthers, a Republican, wrote in response [...]
Entries Tagged as 'Taxation'
Income Tax Vs. Sales Tax
August 10th, 2009 · No Comments · Taxation
Many people I talk to on the subject of taxes erroneously believe that the income tax is a fairer tax than a sales tax. The argument goes that the income tax can be ”graduated”, ( i.e. higher incomes are taxed at a higher percentage than lower incomes), while the sales tax makes no distinction as to income level. To my [...]
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