Washington cities scrapping for share of marijuana tax revenues
OLYMPIA – A new economic forecast predicts recreational-marijuana businesses will bring millions to the state, and the fight is underway for how the proceeds will be spent, with cities vying for a share.
Recreational-marijuana business is expected to bring in $51 million in state revenue during 2015-2017, according to a recent financial report released by the Washington State Economic and Revenue Forecast Council. During 2017-2019, marijuana-tax revenue is projected at $138.5 million.
The new source of revenue represents a fraction of the total state revenue, with a total expected of...