Spokane Washington Pot Businesses Could Bank On Credit Union

Numerica Credit Union is the first financial institution in the state willing to accept clients whose business is recreational marijuana, the Washington Liquor Control Board was told Wednesday.

WASHINGTON: Numerica Credit Union is the first financial institution in the state willing to accept clients whose business is recreational marijuana, the Washington Liquor Control Board was told Wednesday. But only for Spokane area businesses, Becky Smith, the board’s marijuana licensing manager, said: “They want to keep it local.” That could give Spokane marijuana growers, processors and retailers a leg up Read the full article…

Washington Pot Lottery Starts This Week

The state Liquor Control Board received 2,100 applications for retail stores but they'll only issue 334.

WASHINGTON: Retail stores in Washington State will need a license to sell pot. A lottery will start Monday to determine who can open up shop. The state Liquor Control Board received 2,100 applications for retail stores but they’ll only issue 334. Rick Garza, the control board’s director, talked with KING 5′s Mark Wright about the lottery Read the full article…

WA Liquor Control Board Approves Lottery Process for Retail Marijuana Stores

"Fear of stigma seems to be slowly giving way to larger business concerns."

WASHINGTON: The Washington State Liquor Control Board has approved staff’s recommendation for a lottery that will select the apparent successful applicants for marijuana retail licenses. The independent, double-blind process will take place April 21-25, 2014, and will produce an ordered list of applicants that the agency will use to continue its retail licensing process. The Read the full article…

Setting Up Your Washington Cannabis Business Accounting System

On the current market you can expect to pay $175.00-275.00 dollars for a qualified CPA, $75.00 – 125.00 for a systems specialist to support your accounting system set-up, and $25-65 for a Bookkeeper to maintain your records.  It is a good idea to check credentials and references before starting work with anyone.

by Wendy L. Maguire, MA WSD WASHINGTON: Navigating the business byways of Washington State’s emerging legal marijuana industry is challenging; we are literally building the road as we walk it.  The emergent nature of the business leaves us all feeling a bit uncertain as to the expectations, legalities and structures necessary for compliance.   Under the, Read the full article…

Washington’s First Legal Marijuana License To Go To Spokane Grower

Spokane grower Sean Green, the chief executive of a company called Kouchlock Productions, is due to be issued a producer-processor license at the state Liquor Control Board meeting in Olympia on Wednesday morning.

WASHINGTON:  Washington state’s first legal marijuana license is going to a guy named Green. The Associated Press has learned that Spokane grower Sean Green, the chief executive of a company called Kouchlock Productions, is due to be issued a producer-processor license at the state Liquor Control Board meeting in Olympia on Wednesday morning. Philip Dawdy, Read the full article…

WA State takes first stab at estimating pot revenue haul

The bill was approved by the KY Senate Health and Welfare Committee, and now goes to the full Senate.

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 Read the full article…

Legal Pot To Generate $190 Million For Washington: Report

The forecast by the Economic and Revenue Forecast Council showed that $51 million in revenue is expected for the 2015-2017 biennium from marijuana production and sales.

WASHINGTON:  Washington’s new legal recreational marijuana market is expected to bring nearly $190 million to state coffers over a four-year period starting in mid-2015, according to an economic forecast released Wednesday. The forecast by the Economic and Revenue Forecast Council showed that $51 million in revenue is expected for the 2015-2017 biennium from marijuana production Read the full article…

Ban On Pot Bans Passing Through Washingon State Legislature

"We decided it was more important to do it right than to do it fast," Stephen Gutwillig, the Drug Policy Alliance's deputy executive director, said Tuesday. "We ultimately came quite close but just decided we didn't have enough of the pieces in place right now."

WASHINGTON: Lawmakers took steps Wednesday to further address whether or not local governments can choose to ban licensed marijuana businesses. A compromise that emerged out of a House committee Wednesday would give local governments a cut of marijuana tax revenues while requiring them to go along with the state-wide initiative that legalized recreational pot use. The Read the full article…

Ban On Pot Bans Passing Through Washingon State Legislature

"We decided it was more important to do it right than to do it fast," Stephen Gutwillig, the Drug Policy Alliance's deputy executive director, said Tuesday. "We ultimately came quite close but just decided we didn't have enough of the pieces in place right now."

WASHINGTON: Lawmakers took steps Wednesday to further address whether or not local governments can choose to ban licensed marijuana businesses. A compromise that emerged out of a House committee Wednesday would give local governments a cut of marijuana tax revenues while requiring them to go along with the state-wide initiative that legalized recreational pot use. The Read the full article…

Yakima, WA City Council Bans Marijuana Businesses

The Institute on Taxation and Economic Policy (ITEP) has written a new report providing a comprehensive overview of best practices for taxing marijuana and the potential impact these taxes could have on state and local revenue.

WASHINGTON:  The Yakima City Council, once divided on the issue of how to implement the state’s recreational marijuana law, was virtually united Tuesday night when deciding to ban all business activity related to the drug. Council voted 6 to 1 in favor of the ban on the growing, processing and retail sales of pot within Read the full article…