Washington State Legislature: No Tax Breaks for Pot Production
OLYMPIA, WA - The Legislature has passed a measure that would exclude producers of marijuana and marijuana-infused products from qualifying for agriculture tax breaks.
The measure passed the House Thursday on a 55-42 vote and now heads to Gov. Jay Inslee's desk. The Senate unanimously passed the bill last week. Under Senate Bill 6505, the industry would be excluded from three dozen different tax breaks, largely surrounding agricultural production.
Washington voters passed Initiative 502 in November 2012 to legalize and regulate the recreational use of pot by adults over 21, and the first state-licensed pot stores are expected to open in the coming months. The nation's first recreational sales began Jan. 1 in Colorado, which legalized marijuana the same time as Washington.