We interviewed James Lathrop, owner of Cannabis City, a few weeks back and he brought up the heavy taxation issue of not just recreational marijuana stores, but all recreational marijuana businesses. We highlighted this last week only to have the first Seattle cannabis store owner contact us with an even more detailed version of the issue. It’s important, so please take the time to read:
So on the retailer side alone that is ~60% of the product in pure tax, with ~30% going to to cost of goods and ~1-5% left to actually run the business; the growers and processors are in a similar situation.
All cannabis businesses in Washington are set to fail under this unreasonable and compound tax structure; many will fail, some will survive; but none can exist under this tax structure for very long.
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