Following is their statement
Dear Licensees and Taxpayers,
As you may be aware, recent legislation has resulted in changes to the frequency of Average Market Rate (AMR) re-calculation, to how the Retail Marijuana Excise tax on Retail Marijuana is calculated, to the state sales tax exemptions and to the Retail Marijuana Sales tax levied on Retail Marijuana at the point of sale. In addition, the new AMR rates effective July 1, 2017 have been published. Please see the attached AMR fact sheet which is effective for the quarter beginning July 1, 2017, and the attached fact sheets with a brief synopsis of the upcoming changes to taxation. As always, we encourage you and your representatives to stay abreast of all tax and regulatory requirements to remain in compliance.
Here are the highlights of changes. Please read the attached fact sheets for more details about how these changes affect you. You can also find FYI publications about these taxes on the Taxation Division’s website, Colorado.gov/Tax.
On July 1, 2017:
● Retail marijuana and retail marijuana products, as defined in statute, will be exempt from the state 2.9% Sales Tax.
● The Retail Marijuana Sales Tax rate increases to 15%.
● The new Average Market Rate (AMR) will be effective through September 30, 2017.
On August 9, 2017:
● The Retail Marijuana Excise Tax for transfers or sales to unaffiliated marijuana businesses shall be calculated as 15% of the Contract Price. Affiliated marijuana businesses will continue to use the Average Market Rate. See the fact sheets for more details.
For account-specific questions Revenue Online, Colorado.gov/RevenueOnline, is available to manage your accounts, to send us a message and to submit additional documentation when necessary. For questions related specifically to the marijuana tax changes in this email, please contact Nick Ferguson at 303-205-8211 x6811. For all other queries, customer service representatives are available Monday through Friday from 8am to 4:30pm by calling the Marijuana Tax Information Help Line at 303-205-8287. You may also visit one of our five regional Taxpayer Service Centers in Colorado Springs, Denver, Fort Collins, Grand Junction and Pueblo to speak with a trained tax examiner.
The Colorado Department of Revenue is dedicated to providing quality service to our customers in fulfillment of our fiduciary and statutory responsibilities, while instilling public confidence through professional and responsive employees. We recognize that most taxpayers want to file and pay their taxes on time. Therefore, we aim to provide the most accurate and up-to-date information about state tax laws in a timely manner.