COLORADO HARVEST COMPANY AURORA CODE

'The Denver market is as saturated as it's ever been. 'There are no more Aurora licenses, so I felt like we had to sell a golden goose. I feel like people in general and the legislature don't have a good understanding of how bad this is.'Īurora capped its dispensary licenses at 24, and Denver currently has a moratorium on any new pot shops, so Colorado Harvest is maintaining its three stores as it looks for opportunities in the metro area and beyond. 'We were going to have to part with something, and it was easier to sell a piece of dirt than stores that were up and running,' he explains. Cullen says a 280E audit of Colorado Harvest's earnings in the taxable year of 2013 to 2014 cost the company nearly $1 million, forcing him to decide which assets to part with.

COLORADO HARVEST COMPANY AURORA CODE

Selling the spot was a bitter pill to swallow for Colorado Harvest CEO Tim Cullen, who says the company only parted ways with the license and property because of an audit from the IRS under a tax code that forces some pot business owners to pay tax rates of up to 70 and 80 percent on earnings.įederal tax code 280E, a term that cannabis business owners can't wait to stop hearing, was written in 1982 to stop drug dealers from buying expensive possessions with cash and writing them off, but now it's wreaking havoc on the coffers of legal pot businesses. The location would've been Colorado Harvest's fourth in the metro area and its second in Aurora, but now it will be the eleventh store under the Starbuds umbrella. Colorado Harvest Company received a retail dispensary license from the City of Aurora in 2015, one of only 24 available citywide, but had to sell it in 2017 to another familiar dispensary chain: Starbuds. There will be a new dispensary at 14655 East Arapahoe Road in Aurora this spring, but it won't be opened by the company that held the license for over two years.

Colorado harvest company aurora