WA marijuana tax collections soar

Cannabis revenue per capital in Washington for fiscal 2020 was $61.23:  That’s $468,810,000 in revenue for a 2020 population of 7,656,200. https://dor.wa.gov/sites/default/files/legacy/docs/reports/2020/Tax_Statistics_2020/Table1.pdf; https://www.ofm.wa.gov/washington-data-research/statewide-data/washington-trends/population-changes/total-population-and-percent-change.

I once wondered “can any state get $43 per capita, like CO and WA?” https://newrevenue.org/2018/04/26/marijuana-revenue-can-any-state-get-43-per-capita-like-co-and-wa/. So yes. Now Washington may have more consumers than the average state, but that $61.23 ignores local taxation, possible federal taxation, potential greater tax burdens, and general revenue, like income and employment taxes.

Those new WA numbers may reflect a surge in demand during the pandemic, boosting both demand and prices (Washington taxes ad valorem).

With a U.S. population of 332.6 million in 2020, that per capita $61.23 would work out to a total excise tax of $20.4 billion.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s