During the first month of legal marijuana sales in Washington state,
stores sold just under $3.8 million, which is expected to bring in more
than $1 million in state taxes, the state reported on Friday.
Although
licenses have been issued for about 40 stores, only 18 were selling pot
in July, and 16 of them have reported sales so far in August.
During the first month of retail marijuana sales
in Colorado, the state collected closer to $2 million in excise and
sales taxes.
Like Colorado, Washington will tax marijuana in two ways: sales taxes and excise taxes.
Excise
taxes are paid at three different points in the process: When the
grower transfers the marijuana to the processor, when the processor
transfers it to the store and when the retailer sells it to the
consumer. The tax rate at all three points is 25 percent.
The
Legislature is not banking on any marijuana revenue until the next
fiscal year begins in July 2015. They have forecast tax collections
totaling $122 million in the next two-year state budget cycle.
The
state of Colorado has collected $29.8 million in all marijuana taxes,
fees and licenses since recreational sales became legal in January. That
number includes medical marijuana taxes.
About $24.7 million
worth of recreational pot was sold in June in Colorado, the state
reported Friday. Colorado's July tax collections have not yet been
reported.
If you or a loved one is in a bind as a result of a DUI, immediately contact a Seattle DUI attorney. A DUI lawyer
is not going to judge you, and understands that everyone makes
mistakes. Hiring a Seattle DUI lawyer to help can – at a minimum –
reduce those penalties, and can help direct people on how to best deal
with their DUI charge. So it should go without saying that someone cited
for DUI should hire a qualified Seattle DUI lawyer
as soon as possible. Driving Under the Influence charges can cause
havoc on a person’s personal and professional life. Anyone charged with
DUI in Washington State should immediately seek the assistance of a
seasoned Seattle DUI lawyer.
Sunday, August 10, 2014
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