The recreational retail marijuana industry has barely begun to bloom and, according to the Washington State Liquor Control Board, we have already had over 10 million dollars in sales and over 2.5 million in excise tax due. Put this into perspective: we still have yet to see the 2nd Seattle marijuana retail pot shop and hundreds of stores across the state have yet to receive their licenses, and we have these kind of numbers! Imagine the sales and taxes earned once this industry is in full force…
So, the taxes, once they are collected, how are they allotted? According to New Approach Washington and the I-502 initiative, 40% of revenues will go to the state general fund and local budgets, and the remainder will go to dedicated to substance-abuse prevention, research, education and health care. Which would mean, so far, over a million dollars would go towards state general funds and local budgets and about 1.5 million dollars going towards the latter.
What specific item or budget would you like to see the tax money issued to first?
Manic Conrad
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