Excise Tax And Sales From Recreational Marijuana In Washington From 2014 To 2015
Recreational cannabis sales in Washington state grew from $3.5 million in July 2014 to $46 million in June 2015, according to data from the Washington State Liquor and Cannabis Board. This represents a compounded monthly growth rate of 24%.
The sales for the entire year earned the state nearly $65 million in excise taxes. Excise tax revenue are expected to increase significantly in the year ahead as the state has lowered its tax rate from 25% charged to producers, processors, and retailers, respectively, to a flat rate of 37% charged at the retail level.