2014 was a big year for marijuana. The Washington state recreational marijuana market garnered $16 million in excise tax revenue for the state between opening day in July and the year’s end, according to figures released by the Washington State Liquor Control Board.
There are a current total of 99 licensed retailers that together distributed $64 million worth of retail pot in 2014. New Vansterdam, a Vancouver retailer, produced the most revenue with $2,748,875 worth of cannabis products sold. Two Seattle stores, Herbal Nation and Cannabis City, were 2nd and 3rd place with roughly $2.6 million and $2.5 million respectively.
Experts predict that 2015 will be even more successful as the amount of cannabis sold (and therefore the amount of taxes collected) is expected to reflect the continual growth of retailers, growers, and processors who are affecting the market.
Sources:
http://thejointblog.com/washington-state-garners-16-million-taxes-legal-cannabis-2014/
Photo Credit: Nicolas Raymond