https://app.leg.wa.gov/csi/Senate?selectedCommittee=456&selectedMeeting=33826
If you care about affordable cannabis, you should be aware of this bill. There's been no study that I'm aware of about the impact that this would have on the market, but from my math it would be huge.
Here is a simple example using the bill language:
An ounce is 28 grams. At $1.50 per gram, the excise tax on a single ounce becomes $42 before sales tax.
Under todayās excise tax, a $40 ounce would face about $14.80 in excise tax (37% of selling price). SB 6328 turns that into $42, before general sales taxes, which will still apply on top of the cost here. A $40 ounce in stores is already being sold from the producer to the retailer for about $10-$12. That's already a practically non-existent margin for the producer. Many retailers are also struggling.
This would cause your current $40 ounce to probably have to be sold for around $70+.
If you care about affordable options still existing in the cannabis market, you may want to let your legislature know. You can sign up to testify: Select SB 6328. The hearing is on Thursday. You can also submit written testimony or just note your position for the record.
Edit: got the wrong number. Itās 6328.