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WA State rakes in more than $1M in tax revenue in first month of legal pot sales

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.

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Stupide people

The tax revenue of pot will never surpass the costs it creates in healthcare, just like tobacco.

August 07, 2014 at 1:07 pm

    But if they are already smoking it, you have the healthcare costs anyway. May as well generate some revenue.

    August 07, 2014 at 3:38 pm

    So you are saying we should outlaw tobacco, alcohol, and everything else that is bad for you? The revenue in Washington state has already surpassed it number dumbass.

    August 07, 2014 at 4:15 pm
    Smarte Person

    The pot was already being sold and used. The only difference is that now it’s regulated and taxed.

    Even though I believe that the healthcare costs associated with it are minimal, it’s irrelevant whether or not tax revenue exceeds healthcare costs. You’re comparing apples and oranges, because “nobody uses pot” was never an option. Even though it’s still a federal crime, sales and usage continue.

    The only choice we have is whether we want to regulate it and collect tax revenue from it. $1M isn’t a lot but it’s infinitely more than we’ve ever collected before. Would you rather that all these people bought it on the black market, and we collected $0 in taxes?

    August 08, 2014 at 12:00 am

    I hope others read this posters name and realize it’s a joke. Tobacco and Alcohol do cause tons of money in collateral damage. Pot doesn’t.

    August 09, 2014 at 6:22 am