Taxes

December 1, 2017

Wholesale Prices and $3 Billion of Diversionable Product

Earlier this week, one of the local drug interdiction task forces infesting the state announced the bust of 32,449 plants (and some cash and gold and a few houses and people) estimated to be worth $80,000,000. In using a $2,465 per plant valuation, these asset-forfeiture specialists are, apparently, assuming this to be the level of pricing that WA-produced product is expected to command on the streets of non-legal states craving product of the quality produced in the Pacific Northwest. I am glad that these heavily armed and armored folk have […]
November 21, 2017

WA State-Legal Cannabis Generates Billionth Dollar of Tax Revenue Today!

That was a bold statement … but it is my best estimate, I vouch for it and it is one that depends on only 4 things for it’s accuracy: o   -the monthly sales totals published by the WSLCB (with associated excise tax data) o   -arithmetic o   -assumptions regarding average local sales tax  and federal business income tax rates o   -assumption that the average day’s skim of taxes from the market seen in October by “The Man*” will be what “it” takes home each day during November.   Given that … […]
October 25, 2017

Traceability Meltdown in WA – Tax Implications

Over the past week, a new phase of the transition between BiotrackTHC and MJFreeway as Washington’s Cannabis Traceability database provider has been unfolding. As of yesterday, the LCB has made clear that online access to an approved central traceability database will cease at midnight Halloween Eve.  MJ-Freeway and other stakeholders (the LCB and their paid consultants) will now be granted 2 additional months to get their system working. This is unfortunate, and will impact a number of users negatively (particularly those currently using the free version of Biotrack’s reporting application).  […]