Colorado DOR Issues Emergency Regulation on Medical Marijuana Taxation, Licensing

The Colorado Department of Revenue Aug. 2 issued emergency regulations concerning medical marijuana rules for excise tax purposes. The emergency regulation includes measures: 1) defining the terms applying to the regulation; 2) capitalizing the terms applying to the rule to provide more clarification; 3) clarifying the type of information that an applicant and licensee must provide to the State Licensing Authority, including a sales tax permit; 4) establishing the requirements and procedures for the license renewal process, including proof of tax compliance; and 5) clarifying the procedures and factors governing the denial and voluntary withdrawal processes for all licenses issued ...