WA State takes first stab at estimating pot revenue haul

WASHINGTON:  The first estimate of tax revenue from Washington’s pot sales had to be made. And the Washington Economic and Revenue Forecast Council unveiled its first guess Wednesday.

The council estimates that the state’s revenues will be $51.2 million for 2015-2017 and $138.5 million for 2017-2019. That’s just under $190 million for those four years.

The state council’s executive director, Steve Lerch, said the council’s staff anticipates a ramping up of marijuana sales that will somewhat level out after 2017-2019. However, he anticipated a slight rise in those years due to normal growth in Washington’s population.

Lerch cautioned that these estimates could easily be wrong because there is no precedent for this type of calculation. State officials said Wednesday that regional drug lords were not consulted for their market expertise.

Read full article @ Crosscut