Washington state gets $65 million in first-year taxes from marijuana

[Little Tich]

Source: Yahoo! News / Reuters

(Reuters) - Washington state took in $65 million in tax revenue from the recreational marijuana market during the first 12 months since it became legal to produce and sell, according to data released by state regulators this week.

The revenue was generated by cannabis sales of more than $260 million from June 2014 to June 2015, according to data released by the Washington State Liquor Control Board, which oversees the distribution of cannabis.

Voters in Washington state as well as in Colorado approved measures legalizing personal possession and consumption of marijuana in 2012, ushering in the licensing and taxation of retail stores that offer a range of marijuana products to adults.

Despite remaining against federal law, possession of small amounts of marijuana is also legal in the District of Columbia, Oregon and Alaska.

Read more: http://news.yahoo.com/washington-state-gets-65-million-first-taxes-marijuana-210748216--spt.html

[davidpdx]

1. I hope Oregon does as well

We could really use the tax revenue.

[passiveporcupine]

2. I agree

Hey, I might actually have to chip in on this tax.

[Hulk]

3. The weed is GREAT!

Last edited Mon Jul 13, 2015, 05:47 PM - Edit history (1)

An old friend came into town a week ago or so, and we stopped by one of the stores to check it out. I couldn't believe it. The place was packed with customers, and there were probably 20 employees ready to assist. They had BOOKS of cannabis, rated and ready to be considered for purchase.
We bought one, I forget the name, but it was to be a mellow high, and OMG! I'm a Vietnam vet. Smoked plenty in Nam, smoked a lot when I got home for about the next ten years, and then didn't bother to go back for about 35 years.
This was the best high I can remember. There was NO question as to whether we were high or not. It was amazing stuff. I'm going to say maybe 10 times better than anything I have tried off the streets.
It wasn't cheap. About 10 buds, maybe a gram, cost about $30+. I was shocked. But the buzz was worth every bit of it, when you figure that's the price for a good bottle of booze.
I'm not a weed smoker, per se, but I think this stuff has a real future on the market. I'd much rather be somewhere with a bunch of stoners than a bunch of drunks, ANY DAY!
As for driving under the influence.....NOT a good idea. I could probably do it, but I wouldn't recommend it at all. I was stoned...really stoned for maybe an hour or two.
Good for Washington...Colorado, Oregon, DC, and anywhere else that is smart enough to legalize it. I'm a strong proponent of legalizing mary jane.

[udbcrzy2]

7. Expensive

That would be almost 1000 an ounce. Ouch! I wish my state would legalize so we could get tax dollars and people would be able to smoke if they choose.

[Sunlei]

9. you don't need an ounce when one or two hits of 'the good stuff' is so fine :)

[Hulk]

12. That's my point, exactly.

We smoked a half a bud, or maybe one complete bud...and we were as high as I've ever been from weed....and it was "a good high".

I'm just saying, a bottle of fine scotch might cost $35. Here we have a small packet of buds with enough for probably a half dozen very, very decent smokes.

Not suggesting the whole country gets loaded...but on those occasions when one choses to take the time to get stoned, this is quality weed for a fair price.

I was bummed too when I saw how little marijuana one bought for $30+. Guess we are all looking for the $10 ounce. Those days are history. Besides, that $10 is probably closer to $35 today than you would like to think.

[TexasBushwhacker]

13. And you had smoke a lot more of the $10 an ounce stuff

50 years of selective breeding makes a BIG difference.

[Elmer S. E. Dump]

15. "I'm a strong poponent of legalizing mary jane."

I think you meant Potponent.

[valerief]

4. Now Washington can go to WAR. That's all tax money is used for, right? WAR!

On a serious note, this is great news!

[jtuck004]

6. "You shoot 'im"". "No, man, I lost my gun. but take a hit off this..."

There is a reason the military made the marijuana stores here off limits. It's very hard to have a decent fucking war when everyone has opened their minds to something other than hate and greed.

Next thing you know they will be dropping books and food as if we aren't afraid any longer, and then where will we be?

[jmowreader]

16. Silly me...

I thought it was that they don't want guys sparking up between PT and Motor Stables...yeah, you really want someone who's high trying to back a generator into a maintenance bay...

[Comrade Grumpy]

5. This is why people who aren't pot people vote to legalize it.

[Sunlei]

8. Is this millions more State revenue then even the Famous Washington State Apples bring?

Not even to mention increased tourist revenue. I read Colorados increased tourist revenue has added billions to their economy.

[The Blue Flower]

10. Maybe they can build some affordable housing now

nt

[jwirr]

11. And this does not even mention the side savings: farm profits, no more jailing and court expenses.

[TexasBushwhacker]

14. They have to pay a disproportionate amount of fed tax

Since weed is still illegal at the federal level, the shops can't deduct the cost of the weed from their taxable income. That's part of what makes the price so high.

[Uncle Joe]

17. Kicked and recommended.

Thanks for the thread, Little Tich.