WA State rakes in more than $1M in tax revenue in first month of legal pot sales
Posted August 7, 2014 11:16 am.
This article is more than 5 years old.
BELLINGHAM, WA (NEWS1130) – The numbers are in for pot sales down in Washington State, and it’s cashing in in a big way.
Our neighbours across the border picked up more than $1 million in tax revenue in the first month of legal pot shops from less than 30 stores.
“Those numbers are looking pretty good, when you consider that right now, we have 38 retailers, but maybe only 20, 25 of those are actually selling,” says Brian Smith with the Washington State Liquor Control Board.
“People are lining up around the block to get to these stores. Demand has been high because there’s a certain excitement about it,” he adds.
Smith says the revenue is only set to grow as more stores open up and more growers start increasing supply.
“We’re going to be licensing up and over 1,000 people that will be selling and producing marijuana for this market,” he tells us.
As it stands, the state is processing 2,600 applications to grow pot and plans on opening over 300 stores.
