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Washington Sells $127,000 A Day In Legal Marijuana


bobandtorey
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MONTREAL, Aug. 21, 2014 (GLOBE NEWSWIRE) -- Washington State Marijuana users spent $3.8 million ($127,000 per day) in the first

 

month of legal sales. That will bring in approximately $1 million in state taxes, from 18 stores.

 

Like Colorado, Washington is applying sales taxes and excise taxes to marijuana, which will be paid first by the growers, then the processor,

 

then the retailer. The tax rate at all three points is 25%.

 

The financial incentives for governments to regulate and tax marijuana sales ensure that this new frontier will expand, and investment

 

fortunes will be made.

 

On August 5, 2014, Affinor Growers (CSE:AFI) (OTCQB:RSSFF) (Frankfurt:1AF) announced the acquisition of a 49% interest in Good to

 

Grow LLC, a medical Marijuana dispensary and grower located on the Olympic Peninsula in Washington State.

 

"We are now partners in Washington State in a producing marijuana facility," stated Nick Brusatore in an exclusive interview with Financial Press. "In Canada there are

 

40,000 patients allowed to purchase medical marijuana. In Washington State there are 7,000,000 people."

 

Initiative 502 is one of two marijuana-legalization initiatives approved in the U.S., which opens the door to legal investment in a business that already generates over $1

 

billion in sales every year.

 

Read more here

 

http://money.cnn.com/news/newsfeeds/articles/globenewswire/10095644.htm

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