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State of Washington Estimates Legal Pot Will Be $12 A Gram

Posted on  November 09, 2012 by  News Admin

 Legal marijuana in Washington state will average $12 a gram, according to the state Liquor Control Board, which has been put in charge of regulating, taxing and selling cannabis in the state by the voters' approval of I-502. At least a year will be spent studying and setting up the marijuana distribution system before adults 21 and older and actually walk in a store and buy weed. The Liquor Control Board has released a new fact sheet [PDF] on a website designed to help Washington residents keep track of progress to develop regulations for selling and growing marijuana, reports the Spokane Spokesman. "Based on average retail mark-up prices, estimated producer price is $3 per gram and estimated processor price is $6 per gram," the fact sheet states. Besides $250 application fee and $1,000 annual licensing renewal fees -- with separate licenses for producer, processor, and retailer --  there's a 25 percent marijuana tax paid by producers at the wholesale level, 25 percent paid by the processor upon sale to a retailer; and another 25 percent excise tax at the retail level. Estimates have varied wildly on the amount of tax revenue which will be generated; some say federal preemption will prevent the pot stores from ever opening. The number of marijuana outlets per county will be controlled; in other words, once a certain number of outlets are open, no more licenses will be awarded. • Marijuana producers will be those who grow cannabis for sale at wholesale to processors, and allows for...