$3.8 Million of Legal Cannabis Sold Each Day in Washington State
According to new data released by Washington State’s Liquor and Cannabis Board, there is $3.8 million in legal cannabis sold each day, resulting in approximately $700,000 in daily tax revenue.
For fiscal year 2016, which ended on July 1st, there was just shy of $1 billion sold ($972 million). From this, the state garnered $185 million in taxes.
So far for the month of July, there has been $96 million sold, resulting in $18 million in taxes for the state; this is based on 12,000 pounds of sold cannabis, and 858,000 units of infused cannabis products (either edibles, topicals or oils).
According to the Liquor and Cannabis Board, 407 retail licenses and 811 producer/processor licenses have been distributed.