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Washington state marijuana growers face challenges

Views: 0     Author: Site Editor     Publish Time: 2022-11-28      Origin: Site

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Ten years ago this month, residents of Washington state voted to legalize adult-use marijuana. As the state's recreational marijuana industry has grown and matured over the past decade, some of the major issues now include a lack of access to capital and the state's residency requirements preventing outside investment. Low wholesale prices, and like other long-running adult-use cannabis markets like Oregon and Colorado, artisans and small growers face an oversupplied cannabis flower market as growers continue to flood the market. The state imposes a 37% excise tax on adult-use marijuana, by far the highest such tax in the United States. The average tax rate (which includes excise and state and local sales taxes) totals 46.2 percent, which drives some consumers into the illegal market. Social equity opportunities for minority cannabis entrepreneurs are limited. 2022 MJBiz Factbook Estimates Sales of Adult-Use Cannabis Products in Washington State Retail Stores at $1.5-1.7 Billion This Year and $2.3-2.5 Billion by 2026450x450 T5 5个颜色

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