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February 20, 2014

Report: Pot sales to fatten state coffers by $190M over 4 years

By RACHEL LA CORTE
Associated Press

OLYMPIA — The state's new legal recreational marijuana market is expected to bring nearly $190 million to state coffers over a four-year period starting in mid-2015, according to an economic forecast released Wednesday.

The forecast by the Economic and Revenue Forecast Council showed that $51 million in revenue is expected for the 2015-17 biennium from marijuana production and sales. An additional $138.5 million is expected for the next two-year budget that ends mid-2019. A little under half of that revenue is expected from excise tax and license fees related to the marijuana market, and the rest is expected to come from retail sales tax and business taxes.


 
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