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WA State Earns $70 Million from Marijuana Taxes in First Year

WA Marijuana

Last year Washington became the second state to launch a recreational marijuana market. It had just a few recreational dispensaries that were selling high-priced marijuana to lengthily lines of customers.

A year later, Washington state has about 160 operating recreational dispensaries and tax revenues have soared past expectations.

Washington did around $250 million in marijuana sales in the past year. And about $62 million constitutes marijuana excise taxes. The state’s original forecast was $36 million. And when state and local sales and other taxes are included, the total revenue for the state’s government tops $70 million.

Colorado, the first state to legalize recreational marijuana use, earned nearly $44 million from tax revenue in it’s first year and is predicting it will bring in $94 million during 2016, its third year.

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About Dan Kingston

Dan Kingston is a writer and editor in the legalized marijuana industry. Contact Dan here.