Posts tagged: Initative 502
The state Liquor Control Board, responsible for regulating and taxing marijuana in Washington state, estimates the price of legal pot will average $12 per gram.
That's among the interesting tidbits in this Liquor Control Board fact sheet, which the agency has posted to a new web page designed to help Washington residents keep track of progress to develop regulations for growing and selling marijuana.
In addition to licensing fees, there's a 25 percent excise tax at the wholesale level and another 25 percent excise tax at the retail level. Estimates vary on the amount of tax revenue expected to be generated.