Year of legal marijuana nets state $70 million in pot taxes
SEATTLE (AP) - Washington launched its second-in-the-nation legal marijuana market with just a handful of stores selling high-priced pot to long lines of customers. A year later, the state has about 160 shops open, tax revenues have soared past expectations and sales top $1.4 million per day.
And who knows - the industry might even start making some money.
Washington pot farmers, processors and retailers have complained all year that heavy state and federal tax burdens, along with competition from an unregulated medical marijuana market, have made it difficult for them to do business.
But at least some relief is here: This month, two new laws take effect, one to regulate and tax medical marijuana, and one to cut Washington's three-level excise tax on pot to a single, 37-percent tax.
Despite some industry gripes and those tweaks to Washington's legal pot law, which voters passed in 2012 to legalize marijuana for adults over 21, officials and legalization backers say the state's slow and deliberate effort to regulate marijuana has been a success.
A year after stores opened on July 8, 2014, here's a look at the state of legal weed here.
Mr Nice (Hybrid)
Mr. Nice is a cross between the legendary G13 strain and the Hash Plant. Previously unavailable since the '80s, Sensi Seed Bank has put this hybrid on the market again. He is named in honor of Howard Marks, the Oxford graduate who became one of the biggest Marijuana smugglers of our time. After his time in federal prison Howard released his autobiography entitled "Mr. Nice."
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Abusive OG (Sativa)
Abusive OG is an indica strain. The high level of CBD in Abusive OG Kush supplys a nice body high, making this strain effective in the treatment of numerous medical conditions including anxiety, chronic pain, insomnia, muscle spasms and tremors. While the levels of CBD in Abusive OG may moderate the euphoric effects of the THC, they work well together to treat chronic pain.
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