Washington State: $465 Million in Marijuana Taxes Made in FY 2023, Over 5,000 Approved Products

According to data released by the Washington Liquor and Cannabis Control Board, there was over $1.2 billion in legal marijuana sold in fiscal year (FY) 2023.

The $1,257,812,688 in marijuana and marijuana products sold in fiscal year 2023 resulted in $465,399,615.68 in tax revenue for the state. Fiscal year 2023 began on July 1, 2022, and ended on June 30, 2023. Data between July 1, and November is not yet available.

The marijuana taxes made in FY 2023 were a roughly 9% decrease from the $511 in marijuana taxes made in FY 2022.

King County by far saw the largest amount of marijuana sales for FY 2023 at $327,981,114, resulting in $121,353,378 in tax revenue. Pierce County and Spokane County were second and third in terms of sales with $147 million and $134 million.

According to licensing data, there are currently 5,003 approved marijuana products in Washington. These products range from marijuana gummies and hard candies, to marijuana sprays, lotions, tinctures and capsules.

Washington along with Colorado were the first states to legalize recreational marijuana in 2012. The law allows those 21 and older to possess up to one ounce of marijuana and up to seven grams of marijuana concentrates, as well as a variety of marijuana-infused products. Washington is one of the only legal marijuana states to not allow marijuana to be cultivated for personal use.

Washington State has one of the highest legal marijuana tax rates, with marijuana taxed at 37%.

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