This money goes toward cannabis education and public health programs. Part of it pays for a public health hotline that refers people to substance abuse treatment providers. The money also pays for grants to local health departments to develop plans to prevent and reduce youth marijuana use.
Is cannabis legal in Washington State?
- Cannabis Is Now Legal In Washington State. Today in Washington, cannabis — when possessed in private by an adult in specific quantities — is a legal commodity. (By contrast, public consumption of cannabis is a civil violation. Existing penalties regarding home cultivation for non-patients remain unchanged.
What does Washington state do with marijuana tax?
15.56 % of the state revenue goes to the general fund. 12.59% goes to the state public school fund. 71.85% goes to the marijuana tax cash fund.
How much money does Washington state make off of marijuana?
Based on a report from Washington State University, revenue generated by the sale of legal cannabis continues to climb. In 2020, legal cannabis in Washington added an estimated $1.8 billion to the state’s economy, and this figure is expected to rise to $2.12 billion in 2021.
Where does our tax money go in Washington state?
Tax Base: The sales tax is paid on each retail sale of most articles of tangible personal property and certain services. Examples of taxable services include construction, repair, telephone, lodging of less than 30 days, physical fitness, and some recreation and amusement services.
Is medical marijuana taxed in Washington state?
Marijuana retailers with a medical endorsement are subject to Washington taxes administered by the Department of Revenue.
Does Oregon have marijuana tax?
The state excise tax on weed sales already stands at 17%, plus a 3% local tax. Oregon’s 20% tax rate on cannabis is far lower than that in two neighboring states: Washington’s rate is 46% and California’s is 45%.
Do dispensaries pay federal taxes?
It’s all income and is taxable and must be reported on your tax return. However, because it’s a Schedule I controlled substance, Section 280E of the tax code applies, even if the business operates in a state that has legalized the sale of marijuana.