Washington’s Liquor and Cannabis Board’s Slow Data Reporting Leaves Status of State’s Marijuana Market Unknown

Reporting on Washington State’s legal marijuana market is slow-going, with data released by the Liquor and Cannabis Board being months behind other states.

Washington’s Liquor and Cannabis Board, which oversees the state’s legal marijuana industry, operates a neat and fairly comprehensive Marijuana Dashboard which has detailed statistical information regarding marijuana sales, licensing and production. The problem is that the Board seems be incredibly slow at collecting data, and/or reporting it.

The latest monthly sales data for Washington’s marijuana industry was released by the Board roughly two months ago. This was data for October, 2017. This means that data for November, 2017 and onward is unreported and completely unknown by anyone outside of the Board (or maybe it’s even unknown to them). By contrast, in Oregon and Colorado, states which have their Department of Revenues overseeing their marijuana markets, sales and tax data is reported through February of this year. This means that they’re four months ahead of Washington’s available data, and just one month behind current time (this makes March the only finished month where data isn’t yet available, though it will be soon).

Read moreWashington’s Liquor and Cannabis Board’s Slow Data Reporting Leaves Status of State’s Marijuana Market Unknown

WA: Over $142 Million in Legal Marijuana Sold in October, New Single-Month Record

There was $142,045,630 in legal marijuana and marijuana products sold in Washington in October, according to data released by the state’s Liquor and Cannabis Board.

The $142 million in marijuana sold in October marks a single-month record, besting the previous high of $133.5 million in August. The state garnered nearly $30 million in taxes from October’s sales. Overall for fiscal year 2018 – which began on July 1st – the state has garnered $120 million in taxes from $534 million in marijuana sales. This puts the state on track to top fiscal year 2017; the state brought in $314.8 million in taxes from $1.37 billion in sales.

The $142 million in marijuana sold in October in Washington is slightly higher than the amount of marijuana sold in Colorado during the same period; $127 million according to the state’s Department of Revenue.

Read moreWA: Over $142 Million in Legal Marijuana Sold in October, New Single-Month Record

Over $1.3 Billion in Legal Marijuana Sold in Washington in FY 2017

In fiscal year 2017, there was over $1.3 billion in legal marijuana sold in Washington State.

In total there was $1,371,882,585.79 in legal marijuana sold in Washington State in fiscal year 2017, which began on July 1st, 2016, and ended on June 30th, 2017. The state garnered $314,838,969.21 in taxes from these sales. All of this is according to data released by the Washington State Liquor and Cannabis Board (WSLCB).

For fiscal year 2016 there was $786 million worth of legal marijuana sold, resulting in $185 million in taxes. In fiscal year 2015, those in Washington State purchased $259 million in marijuana, garnering the state $64.8 million in taxes.

Read moreOver $1.3 Billion in Legal Marijuana Sold in Washington in FY 2017

Over $1.28 Billion in Legal Cannabis Sold in Washington State this Year

There has been nearly $1.3 billion in legal cannabis sold in Washington state so far this year. This is according to new data released by Washington’s Liquor and Cannabis Board.

legal cannabisFrom January 1st of this year, to the end of November, there was $1,285,567,300 worth of legal cannabis sold. With a full month still remaining, total sales for 2016 are likely to pass $1.4 billion.

The over $1.2 billion in cannabis sold in 2016 has resulted in over $240 million in taxes for the state.

Read moreOver $1.28 Billion in Legal Cannabis Sold in Washington State this Year

For First Time Legal Cannabis Sales in Washington are Equal to Cannabis Sales in Colorado

cannabismoney1Up to this point, legal cannabis sales have been considerably higher in Colorado than Washington State, due in no small part to the fact that sales began in Colorado roughly six months earlier. However, that has changed, as there was almost an equal amount of cannabis sold in the two states in July.

According to recently released sales data, there was roughly $122 million worth of legal cannabis sold in Colorado in July. By comparison, there was roughly $121 million in legal cannabis sold in Washington during the same time period. In August, there was $130 million in cannabis sold in Washington, the highest amount ever sold in one state in one month. Sales data for August for Colorado won’t be released until next month.

Read moreFor First Time Legal Cannabis Sales in Washington are Equal to Cannabis Sales in Colorado

WA: Average Price of Legal Cannabis Drops to $10 a Gram

A gram of legal recreational cannabis being sold in Washington.The price of legal recreational cannabis in Washington State has dropped to an average of $10 a gram, down from $25 – $30 a gram when sales first began in 2014. This is according to the state’s Liquor and Cannabis Control Board.

The drop in price is attributed to two factors; an increase in the number of retail outlets and cultivation centers which has increased competition, and a recent change in the state’s tax structure. Initially cannabis was taxed 25% at three different levels, but due to changes made by state lawmakers in the last legislative session, cannabis is now taxed only once; 37% at the point of sale.

Read moreWA: Average Price of Legal Cannabis Drops to $10 a Gram

New Study Shows Which Washington Counties Purchase the Most Cannabis Per Capita

A gram of legal recreational cannabis being sold in Washington.A new study conducted by the Washington State Institute for Public Policy has found that Klickitat County has the highest rate of per capita recreational cannabis sales, averaging $65.80 of cannabis sold for every one person since legal sales began in July, 2014.

According to the study, Clark County was second with $56.93 sold per capita, with Jefferson County coming in at third with $51.23 sold per capita.

King County, the state’s most populated county, had less than 40% of the per capita sales of Klickitat County, averaging $24.39.

Read moreNew Study Shows Which Washington Counties Purchase the Most Cannabis Per Capita

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

Washington Legislature Passes Recreational Cannabis Reform Bill, Governor Inslee Expected to Sign

Washington’s Senate on Saturday voted 36 to 7 to approve legislation that would make changes to the state’s recreational cannabis market, includingcannabud removing the three-tier tax structure in favor of a single excise tax. The vote came a day after the House of Representatives passed the measure with a 59 to 38 vote. It now heads to Governor Jay Inslee.

House Bill 2136 would remove Washington’s three-tier tax structure on recreational cannabis (25% on the producer, processor and retailer), and would replace it with a single 37% tax which would be paid at the point of sale at retail outlets.

Read moreWashington Legislature Passes Recreational Cannabis Reform Bill, Governor Inslee Expected to Sign

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.

Read moreWashington State Garners $16 Million in Taxes from Legal Cannabis in 2014