Washington State Garners Over $300 Million in Taxes from Marijuana Sales in FY 2017

Washington has garnered over $300 million in taxes from legal marijuana sales in fiscal year 2017.

This is according to data from the Washington State Liquor and Cannabis Board (WSLCB). In total the state has earned $304,968,332 in fiscal year 2017, which began on July 1, 2016 and ended on June 30. These taxes come from $1.32 billion in legal marijuana sales (all of this is as of June 20, meaning the total numbers for FY 2017 will end up slightly higher).

By comparison, there was $786 million in total marijuana sales, resulting in $185 million in taxes, in FY 2016. In FY 2015, the first fiscal year with legal cannabis sales, $64.8 million in taxes was garnered from $259 million in sales.

Read moreWashington State Garners Over $300 Million in Taxes from Marijuana Sales in FY 2017

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