$30 million of pot taxes could be returned to Colorado residents

It looks like all those legal pot shops may not be as profitable for Colorado after all.

Colorado may have to refund $30 million of the more than $50 million it collected in taxes from marijuana sales over the course of 2014. The money would go directly into the pockets of state residents in the form of tax rebates, thanks to a constitutional amendment that limits taxes collected

See also: 7 unbelievable things you could buy with Colorado's weed tax revenue

Taxes on marijuana currently add 30% or more to the price of pot, depending on the jurisdiction. Legal weed sales now face return because of a 1992 voter-approved constitutional amendment called the Taxpayers' Bill of Rights requiring all new taxes to go before voters. Read more...

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