As other states contemplate legalization, marijuana sales top $19.2 million in Washington
October 2, 2014
If California voters elect to approve the sale of marijuana in 2016, the state can expect to collect $519,287,052 in sales and excise taxes over one year. So says a report out Thursday by the financial website Nerdwallet. Should all 50 states and the District of Columbia legalize pot, then total state and local tax revenue would reach nearly $3.1 billion.
This fall, Alaska, Florida and Oregon will offer voters the chance to legalize marijuana in one form or another. California would see the greatest revenue share, followed by Florida, at $183 million; Oregon, at $54.5 million; Alaska, at $11.5 million; and the District of Columbia, at $8.7 million. In computing the data, Nerdwallet also calculated the number of possible customers based on surveys showing the number of citizens over 25 who have smoked marijuana in the past month. The results: California, 6.74 percent; Florida, 4.73 percent; Oregon, 10.25 percent; Alaska, 11.18 percent; and District of Columbia, 7.24 percent.
Kansas marked the nation’s lowest percentage of adult smokers at 2.55 percent. Others showing a low percentage were North Dakota, at 3.07 percent; Utah, 3.04 percent; and Texas, at 3.3 percent.
In Washington, the report said, 8.11 percent of adults over 25 have smoked pot in the last month.
And in the latest financial data available in Washington, state Liquor Control Board spokesman Brian Smith reported Thursday that from opening day in July through the end of September, the state has collected $4,806,452 in excise taxes from the growing, processing and retail sales of marijuana.
This figure is based on total sales at all three levels of $19,225,808. September total sales for production, processing and retail were $8.5 million, with $5,781,656 marked by retail sales alone.