Seattle City Council Unanimously Loosens Restriction on Cannabis Businesses

seattleIn a unanimous Monday vote, Seattle’s City Council gave approval to a proposal that drastically shrinks the buffer zones that separate legal cannabis businesses from locations such as public parks and schools.

Under current state law, the buffer zone between cannabis businesses and public locations such as parks is set at 1,000 feet; however, the state’s legislature last year passed a bill allowing cities to lower this to 100 feet. Seattle’s Council voted to lower the number to 250 feet in downtown Seattle, and 500 feet elsewhere.

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Washington State Garners $16 Million in Taxes from Legal Cannabis in 2014

With less thanmoney 100 stores operating throughout the state, and despite sales not taking starting until July, Washington State garnered over $16 million in excise taxes from over $64 million in cannabis sold in 2014, according to recent figures released by the state’s Liquor Control Board.

In total, 99 cannabis retail outlets have been licensed to sale cannabis in Washington, though not all of them are currently operating. The Liquor Control Board plans to eventually distribute licenses to 334 cannabis stores. Of the stores currently operating, New Vansterdam in Vancouver brought in the most sales, with $2,748,875 sold. Herbal Nation ($2.6 million) and Cannabis City ($2,469,905), both in Seattle, were the second and third in total sales.

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Seattle’s Second Recreational Cannabis Retail Outlet Plans to Open Tuesday

Uncle Ike’s will become Seattle’s second recreational cannabis retail outlet on Tuesday when ituncle opens at 2310 East Union Street. According to owner Ian Eisenberg, he received a license to open the shop from the state’s Liquor Control Board earlier this week, and says they should be ready to sell cannabis to anyone 21 and older come Tuesday.

Uncle Ike’s will be open Tuesdays through Sundays from noon to 7PM, and will be closed on Mondays. Some of the strains they plan to carry on opening day includes Lemon Kush, Snoop’s Dream and Pineberry.

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Washington State Garners $148,256 in Taxes in First Three Days of Legal Cannabis Sales

In the first three days of legal recreational cannabis sales Washington State has earned nearly $150,000 in excise taxes, and that’scannabismoney with just six outlets open on day one, and that number doesn’t include the money made from state and local sales taxes.

In the first day of sales on Tuesday, the state earned $61,604 in excise taxes. The number dropped to $30,924 on Wednesday, before rising to $55,728 on Thursday, bringing the total to $148,256. The figures were released Friday by the state’s Liquor Control Board, the entity tasked with regulating the new industry.

Read moreWashington State Garners $148,256 in Taxes in First Three Days of Legal Cannabis Sales