The Washington Senate has introduced Senate Bill 5467, a bill that repeals the excise taxes imposed on marijuana and creates a new tax that is imposed on the purchaser at retail.
This bill requires the board regularly review the tax levels established under this section and make recommendations to the legislature as appropriate regarding adjustments that would further the goal of discouraging use while undercutting illegal market prices.
There is presently a 25 percent excise tax imposed on marijuana licensees at the three different stages – production, processing, and retail.
This legislation proposes that the new tax is set at 37 percent until July 1, 2017; 30 percent from July 1, 2017, through June 30, 2019; and 25 percent beginning July 1, 2019.
The seller must hold the funds in trust until paid to the Liquor Control Board. The seller is personally liable for the amount of the tax.
A process is created to address the failure to remit the taxes by a limited liability entity that has been terminated, dissolved, or abandoned, or is insolvent.
Effective Date: The bill contains an emergency clause and takes effect on July 1, 2015
This act is necessary for the immediate preservation of the public peace, health, or safety, or support of the state government and its existing public institutions.
National Organization for the Reform of Marijuana Laws – Advocacy Campaigns
