The legal marijuana industry in Washington State generated over $100 million in sales in October, bringing the year-to-date total to above $1 billion.
There was $101.5 million worth of marijuana and marijuana products, including concentrates, edibles, tinctures and topicals, sold in October in Washington. This is according to data released by the research firm Headset.
Sales for October marked a slight increase from the $98 million sold in September, and it brings the year-to-date total to around $1.1 billion. In 2023, there was $1.25 billion in marijuana sales resulting in over $400 million in taxes. The state is on track to match, or possibly exceed this amount.
The average price per gram of dried marijuana in August was $7.09, a slight decrease from the $7.11 average the previous month.
In November 2012, Washington became one of the first states, alongside Colorado, to legalize marijuana. The law allows adults aged 21 and older to possess up to one ounce of marijuana, seven grams of concentrates, and up to 72 ounces of marijuana-infused liquids. A 37% excise tax, the highest in the U.S., is applied to marijuana at the point of sale.
The majority of Washington’s marijuana tax revenue is allocated to healthcare, with approximately one-third going to the state’s general fund. About 8% is distributed to local governments, education and prevention programs, and the administration of the state’s legal marijuana system.
Earlier this year, Governor Jay Inslee signed a law that exempts qualifying patients and designated providers with a recognition card from the 37% excise tax on cannabis products that are labeled as Department of Health (DOH)-compliant and tested according to DOH guidelines.
