Taxes from the first few days of legal marijuana
Washington will haul in nearly $150,000 in excise taxes from the first three days of legal marijuana sales – and that doesn’t include state and local sales taxes.
Randy Simmons, the Liquor Control Board’s project manager for legal pot, says that’s not bad, considering the market is in its infancy, with only a few stores open statewide.
The law, voters passed in 2012 to legalize pot, specifies that excise taxes of 25 percent are imposed when producers sell their product to licensed retail stores, and another 25 percent is imposed when shops sell to consumers.
All excise taxes due from the first day of sales Tuesday totaled $61,604. The figure dipped to $30,924 on Wednesday, and rose to $55,728 on Thursday, for a total of $148,256.