WA: Over $140 Million in Legal Marijuana Sold in October, Setting New Monthly Sales Record

In Washington State there was $142,045,620.27 worth of legal marijuana and marijuana products sold in October, easily breaking the previous monthly record set in August ($133 million).

The over $140 million in legal cannabis sold in October resulted in nearly $30 million in taxes for the state. So far for fiscal year (FY) 2018, which began on July 1st of this year, there has been $534 million in marijuana sold, resulting in over $120 million in taxes. For FY 2017, which began on July 1st, 2016, and ended on June 30th, 2017, there was $1,371,882,585.79 in legal marijuana sold in Washington State in fiscal year 2017; the state garnered $314,838,969.21 in taxes from these sales.

This data was obtained by the Washington State Liquor and Cannabis Board (WSLCB). According to the WSLCB, 1,896 licenses have been issued throughout the state for marijuana producers, processors and retail outlets.

Read moreWA: Over $140 Million in Legal Marijuana Sold in October, Setting New Monthly Sales Record

Washington Attorney General Vows to Use “Every Tool at His Disposal” if Trump Attacks Legal Marijuana

Washington Attorney General Bob Ferguson says he will do everything he can to defend the state’s legal marijuana system.

bob ferguson
Washington State Attorney General Bob Ferguson

“Attorney General Bob Ferguson has vowed to use every tool at his disposal to ensure that the federal government does not undermine Washington’s successful, unified system for regulating recreational and medical marijuana”, his Communication Director Peter Lavallee tells us.

This means potentially filing a lawsuit against the federal government if they decide to attack marijuana businesses or consumers that are following state law (though Lavellee points out that the attorney general’s office doesn’t represent individuals in their legal cases).

Read moreWashington Attorney General Vows to Use “Every Tool at His Disposal” if Trump Attacks Legal Marijuana

$139.6 Million in Legal Cannabis Sold in Washington in September, $26 Million in Taxes Garnered

cannabis soldThere was $139,621,291 in legal cannabis sold in Washington State in the month of September. This represents a roughly $10 million increase from sales in August, which at the time set the record for the highest amount of legal cannabis sold in a state in a given month.

The nearly $140 million in legal cannabis sold resulted in $26 million in taxes for the state. This brings the total amount of taxes the state has garnered from legal cannabis sales so far this year to around $250 million. The average daily sales are approximately $4.5 million, resulting in around $800,000 in taxes each day.

Read more$139.6 Million in Legal Cannabis Sold in Washington in September, $26 Million in Taxes Garnered

Washington Governor Signs Bill Eliminating Three-Tier Tax Structure on Recreational Cannabis

wapicWashington State Governor Jay Inslee has signed into law a measure that eliminates the state’s three-tier tax structure on recreational cannabis in favor of a single excise tax.

Under current law, recreational cannabis is taxed at three different levels, 25% at each level. Under House Bill 2136, most of which takes effect tomorrow, this system will be replaced with a single 37% tax which would be paid at the point of sale between retailers and their customers.

Read moreWashington Governor Signs Bill Eliminating Three-Tier Tax Structure on Recreational Cannabis