Washington Brought in $70M in Taxes on Legal Pot in One Year

Washington’s first year of legal marijuana sales has generated $70 million in tax revenue, a new report says.
That total follows the Evergreen State’s first stores selling the drug opening in July 2014, according to The Associated Press.
AP said Washington now boasts 160 marijuana stores and sales topping $1.4 million daily.
The state netted $250 million in sales of the plant during its first year of legal transactions. About $65 million of that haul stems from marijuana excise taxes.
The $70 million total in taxes for the state’s first year of sales includes all state and local sales and other taxes, AP reported.
Washington initially predicted a windfall of $36 million in taxes for its debut year of sales.
The actual total still represents a major harvest in profits despite constituting only a fraction of Washington’s $38 billion budget for the next two years.