WA: Over 5.3 Million Pounds of Legal Cannabis Sold in July

Legal CannabisIn July alone there was 5.3 million pounds of legal cannabis sold in Washington State, according to data released by the Liquor and Cannabis Board. These sales resulted in roughly $20 million in taxes.

In addition to the 5.3 million pounds of “usable” cannabis sold, there was 485,000 units of cannabis extracts sold, 285,000 units of edibles sold, 70,000 units of liquid edibles sold, and 14,000 units of topical cannabis (lotions and ointments) sold.

Recently we reported that there is $3.8 million of cannabis sold legally in the state each day, garnering over 700,000 in daily taxes.

Read moreWA: Over 5.3 Million Pounds of Legal Cannabis Sold in July

$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,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).

Read more$3.8 Million of Legal Cannabis Sold Each Day in Washington State

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