07-06-2015, 08:04 PM
RECREATIONAL MARIJUANA -- SHOW ME THE $$$$
Washington state raked in more than $70 million in taxes on $274 million is sales during its first year of legal and regulated marijuana (2014), double the forecast.
In the first year of legalization, Washington state's marijuana businesses sold more than 22,000 pounds of marijuana and 700,000 marijuana-infused edible products, including both solids and liquids. Meanwhile, state cultivators harvested nearly 60,000 pounds of marijuana flower.
Washington state has approved more than 6 million square feet of plant canopy to produce marijuana to date, according to Brian Smith, the communications director for the state Liquor Control Board.
Colorado raked in $44 million in taxes off of $386 million in sales during its first of legal and regulated marijuana (2013), vastly exceeding the forecast. Last year, those numbers doubled.
Besides Washington and Colorado, two more states -- Oregon and Alaska -- as well as the District of Columbia have legalized marijuana for recreational purposes. While Oregon's new law went into effect just last week and Alaska's went into effect in February, the first shops in both states aren't expected to open until 2016.
That's a lot of tax revenue slated for schools, healthcare and road repair.
"These impressive numbers are likely to catch the eyes of policymakers in other states that could use a little help closing their budget gaps," said Tom Angell, chairman of the advocacy group Marijuana Majority.
Legal marijuana is the fastest-growing industry in the United States, a recent industry report found, and if the trend toward legalization spreads to all 50 states, marijuana could become larger than the organic food industry.
Marijuana remains illegal under federal law.
Refs:
http://www.huffingtonpost.com/2015/07/06...37722.html
http://www.washingtonpost.com/blogs/wonk...n-by-2016/
Washington state raked in more than $70 million in taxes on $274 million is sales during its first year of legal and regulated marijuana (2014), double the forecast.
In the first year of legalization, Washington state's marijuana businesses sold more than 22,000 pounds of marijuana and 700,000 marijuana-infused edible products, including both solids and liquids. Meanwhile, state cultivators harvested nearly 60,000 pounds of marijuana flower.
Washington state has approved more than 6 million square feet of plant canopy to produce marijuana to date, according to Brian Smith, the communications director for the state Liquor Control Board.
Colorado raked in $44 million in taxes off of $386 million in sales during its first of legal and regulated marijuana (2013), vastly exceeding the forecast. Last year, those numbers doubled.
Besides Washington and Colorado, two more states -- Oregon and Alaska -- as well as the District of Columbia have legalized marijuana for recreational purposes. While Oregon's new law went into effect just last week and Alaska's went into effect in February, the first shops in both states aren't expected to open until 2016.
That's a lot of tax revenue slated for schools, healthcare and road repair.
"These impressive numbers are likely to catch the eyes of policymakers in other states that could use a little help closing their budget gaps," said Tom Angell, chairman of the advocacy group Marijuana Majority.
Legal marijuana is the fastest-growing industry in the United States, a recent industry report found, and if the trend toward legalization spreads to all 50 states, marijuana could become larger than the organic food industry.
Marijuana remains illegal under federal law.
Refs:
http://www.huffingtonpost.com/2015/07/06...37722.html
http://www.washingtonpost.com/blogs/wonk...n-by-2016/