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State's marijuana income expected to get much higher
http://crosscut.com/2014/11/21/under-the-dome/122902/states-marijuana-income-likely-flourish/#commentsWashington will be flirting with roughly $200 million in annual recreational marijuana tax income by the end of the decade. At the same time, however, state and banking officials are looking over their shoulders for potential federal action that could make doing business with the industry more difficult.
State and banking officials briefed the Washington Senate Banking and Financial Institutions Committee on Thursday about the economics of the state's fledgling marijuana industry.
Mike Kashmar, chief financial officer of the Washington State Liquor Control Board, mapped out excise tax predictions for the recreational marijuana industry through 2019. The projections are $36.3 million in revenue for 2015; $80 million in 2016; $120 million in 2017; $160 million in 2018, and almost $194 million in 2019.
The state has issued 306 licenses for marijuana growers and processors, and another 84 licenses for retail stores. So far, 69 of those stores have actually sold pot. These stores are in 26 of Washington's 39 counties, with 17 counties having more than one store.