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Home 🌿 Marijuana Business News 🌿 Washington Legal Cannabis Sales Tax Top $70M in Year One, So Why are People Going Out of Business? 🌿

Washington Legal Cannabis Sales Tax Top $70M in Year One, So Why are People Going Out of Business?

Submitted by Marijuana News on Sun, 08/16/2015 - 07:22

Washington launched its second-in-the-nation legal marijuana market with just a handful of stores selling high-priced pot to long lines of customers. A year later, the state has about 160 shops open, tax revenues have soared past expectations and sales top $1.4 million per day.

Washington launched its second-in-the-nation legal marijuana market with just a handful of stores selling high-priced pot to long lines of customers. A year later, the state has about 160 shops open, tax revenues have soared past expectations and sales top $1.4 million per day. Washington legal cannabis sales tax topped $70M in year one, surpassing all estimates.

And who knows — the industry might even start making some money.

Washington pot farmers, processors and retailers have complained all year that heavy state and federal tax burdens, along with competition from an unregulated medical marijuana market, have made it difficult for them to do business.

But at...

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