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Washington State Garnering Nearly $1 Million in Daily Taxes from Legal Marijuana Sales

Washington State Garnering Nearly $1 Million in Daily Taxes from Legal Marijuana Sales

Washington State’s legal marijuana market continues to grow, with daily marijuana sales surpassing $4.8 million.

The daily average of $4.82 million in legal marijuana sales – a new high – garners the state roughly $910,000 in daily taxes. This is according to data collected by the state’s Liquor and Cannabis Board. According to the board, there have been 490 retail licenses and 974 producer/processor licenses distributed throughout the state.

So far in fiscal year (FY) 2017, which began on July 1st, there has been $1,181,675,336 in legal marijuana sold, resulting in $220,980,590 in taxes. This has already topped the total sales ($972,729,675) and taxes ($185,786,493) for FY 2016.

Data from the Liquor and Cannabis Board ;shows that there has been 363,268 pounds of marijuana harvested, and 20,736 pounds of extracts produced, so far in FY 2017.

Further data on Washington’s legal cannabis market can be found on the Liquor and Cannabis Board’s website by clicking here.

About Anthony Martinelli

Anthony, co-founder and Editor-in-Chief of TheJointBlog, has worked closely with numerous elected officials who support cannabis law reform, including as the former Campaign Manager for Washington State Representative Dave Upthegrove. He has also been published by multiple media outlets, including the Seattle Times. He can be reached at TheJointBlog@TheJointBlog.com.

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Published at Sun, 26 Mar 2017 07:25:32 +0000