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Published on Monday, December 12, 2016

Marijuana industry beats revenue expectations again

Marijuana sales and tax revenues continue to beat expectations. Data from the Liquor Cannabis Board (LCB) below show the drastic difference between initial excise tax estimates from 2013 and recently updated projections from June 2016.

Fiscal year

Initial tax forecast (2013)

Current tax forecast (2016)

2015

$36.3 million

$64.9 million

2016

$80.0 million

$164.0 million

2017

$119.8 million

$272.0 million

2018

$160.2 million

$330.4 million

2019

$193.5 million

$363.1 million

The LCB also updates a Weekly Marijuana Report Dashboard website (http://lcb.wa.gov/marj/dashboard) which shows info on licensing, production, sales, and compliance. The site also links to interactive GIS maps that show the locations of retail stores and producer/processor facilities. The financial information below shows some of the information available on the dashboard.

Marijuana sales activity

Total sales to date (since July 8, 2014) $1.89 billion

  • FY 2015: $259.7 million
  • FY 2016: $972.7 million
  • FY 2017: $664.8 million

Average daily sales – $4.4 million in average daily sales

Excise tax revenue

Total excise Tax to date (since July 8, 2014): $ 374.6 million

  • FY 2015: $64.9 million
  • FY 2016: $185.7 million
  • FY 2017: $124 million
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