Pubdate: Sat, 12 Jul 2014
Source: Seattle Times (WA)
Copyright: 2014 The Seattle Times Company
Contact:  http://seattletimes.nwsource.com/
Details: http://www.mapinc.org/media/409
Page: 12

IN 3 DAYS, STATE GETS $148,000 FROM POT

With just a handful of pot stores opened and supply short, the state
will still pull in $148,256 of excise taxes from sales on Tuesday,
Wednesday and Thursday, according to figures provided by the Liquor
Control Board. That number reflects sales throughout the supply chain,
including those from suppliers to retailers, but doesn't account for
sales tax or business and occupation (B&O) taxes.

Randy Simmons, the state's marijuana project director, said he expects
volatile revenue figures until the end of September or beginning of
October when outdoor grows are expected to be harvested.

Marijuana is taxed at 25 percent as it passes through each rung of the
industry's supply chain (producer, processor and retailer). Most
excise taxes from pot are earmarked toward prevention, research and
health funding.

In February, the Washington State Economic and Revenue Forecast
Council estimated the state would see $586 million from pot between
2015 and 2019. That number includes revenue from sales tax as well as
B&O taxes.
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MAP posted-by: Matt