Legal Marijuana Nets WA $318K in Excise Taxes

The first week and a half of recreational marijuana sales in Washington have generated several hundred dollars in excise taxes for the state.

Through July 17, the state has pulled in an estimated $318,000 in excise taxes on $1.27 million in cannabis sales.

The sales figure includes cannabis transfers at each step in the supply chain but does not include sales or business and occupation taxes.

The figures were released Wednesday by the Washington Liquor Control board, which governs the state’s recreational marijuana program.

A day-by-day report of sales levels released with the overall numbers shows a marked decrease in product sales the second week that rec stores have been open. The drop is likely due to product selling out quickly amid constrained supply.

Some Washington marijuana entrepreneurs have predicted it may take months for the supply line to normalize and inventories to reach steady, maintainable levels.