Jose Luis Magana, AFP via Getty Images
Demonstrator vapes during a rally outside of the White House to protest the proposed vaping flavor ban in Washington DC on Nov. 9, 2019. In 2020, Colorado voters approved a new tax on nicotine products like vape devices, and an increase on sales taxes for tobacco products like cigarettes. (Photo by JOSE LUIS MAGANA/AFP via Getty Images) Getting your player ready...
A quirk of the Taxpayer’s Bill of Rights requires that even if voters agree to a tax increase — in this case about $176 million in new tobacco and nicotine taxes approved by voters in 2020 — if it generates more money than estimated, the state has to refund the excess.
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