Tag: taxes

Oregon: Over $25 million in Taxes Earned in First Six Months of Legal Cannabis Sales

marijuana retail outlets

In the first six months of legal recreational cannabis sales in Oregon, the state has already garnered $25.5 million in taxes, putting the state on track for over $50 million for the first year. The numbers are based on data released by the Oregon Department of Revenue. Currently only medical cannabis dispensaries are selling recreational …

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Washington Garners $70 Million in Taxes During First Year of Legal Cannabis Sales

There was over $250 million in recreational cannabis sold in Washington during the first year of legal sales, from July 1st, 2014, to July 1st, 2015. In total, this resulted in over $70 million in taxes for the state, according to data released by the state. In total, there are 160 recreational cannabis outlets reporting …

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Over $1.2 Million in Recreational Cannabis Sold Each Day in Washington State

There’s over $1 million in recreational cannabis sold each day in Washington State among the 142 outlets that are reporting sales figures, according to the Liquor Control Board (LCB). According to the LCB (which will be renamed the Liquor and Cannabis Board on July 24th), there are 161 licensed recreational cannabis outlets throughout Washington State, …

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Washington State Senate Votes to Eliminate Excise Taxes on Recreational Cannabis Sales

With a 26 to 22 vote, Washington’s full Senate has given approval to Senate Bill 6062, a proposal to eliminate several excise taxes on recreational cannabis sales. Under Washington’s current recreational cannabis tax structure, cannabis is taxed 25% at three different levels, when producers sell to processors, when processors sell to retailers, and when retailers …

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Colorado Recreational Cannabis Sales Reach Record High in January, $36.4 Million Sold

The newest figures released by Colorado’s Department of Revenue shows that January was Colorado’s biggest month yet in regards to the amount of recreational cannabis sold. In total, there was $36.4 million worth of recreational cannabis purchased in January, resulting in over $3.6 million in excise taxes, which is being used primarily to increase the …

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

With less than 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 …

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Report: Washington to Garner Over $694 Million in Taxes from Legal Cannabis by 2019

Washington State is set to bring in over $694 million in taxes from legal recreational cannabis sales by the middle of 2019, according to a new report released by the Economic and Revenue Forecast Council. The number is up from the Council’s September prediction of $636 million. The report shows that the state is expected …

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New Study Details What Each State Gains to Make if U.S. Legalizes Recreational Cannabis

A new study released by the financial group Nerd Wallet has detailed what each of the 50 U.S. states gain to make if the nation legalizes the sales of recreational cannabis. According to the study; “The U.S. stands to gain, according to our calculations, $3,098,866,907 in state and local taxes per year — that’s more than …

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Washington State Garners $1.75 Million in Taxes from Legal Recreational Cannabis Sales in August

New data released by the Washington State Liquor Control Board has revealed that the state garnered approximately $1.75 million in taxes from $6.9 million of legal recreational cannabis sold in the month of August. The numbers are up substantially from July, where sales reached $3.8 million, bringing in around $1 million in taxes for the …

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Colorado Has Garnered $29.8 Million in Taxes From Legal Cannabis Sales in First Half of 2014

The combination of legal recreational cannabis sales, which began on January 1st in Colorado, and legal medical cannabis sales, have earned the state $29.8 million in taxes in the first half of the year, according to data released from the Colorado Department of Revenue. In total, there was over $24.7 million in recreational cannabis sold …

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