October 21, 2012

Where Would The Money Generated By Washington I-502 Go To?

October 21, 2012
New Approach Washington

What Could $582,000,000 Every Year Do?

By New Approach Washington

The answer is:  a lot.

According to the state Office of Financial Management, I-502’s new 25% marijuana excise tax, combined with retail sales and B&O tax, would generate more than a half billion dollars in new tax revenue annually.

Approximately $182 million would go to the state general fund, $34 million to local budgets, and $366 million to health care, education, and prevention.

That’s a lot of money for our communities and for our state.

It’s time for a New Approach to marijuana.

washington i-502 tax revenue distribution

Source: New Approach Washington


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