Solved

Article Summary Monthly Marijuana Sales in Colorado Topped $100 Million for the for the First

question 180

Multiple Choice

Article Summary
Monthly marijuana sales in Colorado topped $100 million for the first time in August, 2015, with $59.2 million in recreational sales and $41.4 million in medical sales. Colorado has levied three types of state taxes on recreational-use marijuana: a 2.9% standard sales tax, a 10% special marijuana sales tax, and a 15% excise tax on wholesale marijuana transfers. The 15% excise tax is earmarked for school construction projects. In August, recreational-use taxes and fees totaled $11.2 million and medical taxes and fees were $2 million, bringing total revenue-to-date for the year to over $86 million.
Source: Elizabeth Hernandez, "Colorado monthly marijuana sales eclipse $100 million mark," Denver Post, October 9, 2015.
-Refer to the Article Summary above.Colorado taxes marijuana with a 12.9% sales tax on buyers and a 15% wholesale excise tax on producers, which equates to 46 percent of the total taxes paid by retail buyers and 54 percent paid by producers.Does this necessarily mean that buyers will bear 46 percent of the burden of the tax and producers will bear 56 percent of the burden?

Definitions:

Polychronic

Describes cultures or individuals who multitask and manage multiple activities simultaneously with a flexible approach to time.

Colloquial Language

Informal language or expressions used in everyday conversation, not suitable for formal contexts.

Stereotypes

Oversimplified ideas or generalized beliefs about a particular group of people.

Observable Likenesses

Features or characteristics that can be seen and identified as similar between two or more items or people.