Washington has garnered over $300 million in taxes from legal marijuana sales in fiscal year 2017.
This is according to data from the Washington State Liquor and Cannabis Board (WSLCB). In total the state has earned $304,968,332 in fiscal year 2017, which began on July 1, 2016 and ended on June 30. These taxes come from $1.32 billion in legal marijuana sales (all of this is as of June 20, meaning the total numbers for FY 2017 will end up slightly higher).
By comparison, there was $786 million in total marijuana sales, resulting in $185 million in taxes, in FY 2016. In FY 2015, the first fiscal year with legal cannabis sales, $64.8 million in taxes was garnered from $259 million in sales.
According to the WSLCB, 1,735 marijuana licensed have been distributed throughout the state, with 505 being for cannabis retail outlets. Since the first licenses issued in 2014, over 166 million grams of useable cannabis has been produced.
About Anthony Martinelli
Anthony, co-founder and Editor-in-Chief of TheJointBlog, has worked closely with numerous elected officials who support cannabis law reform, including as the former Campaign Manager for Washington State Representative Dave Upthegrove. He has also been published by multiple media outlets, including the Seattle Times. He can be reached at TheJointBlog@TheJointBlog.com.