Washington State legislators recently voted to eliminate the 37% excise taxes on cannabis products for medical marijuana patients, a move that will save those with medical cards hundreds to thousands of dollars a year.
The bill in question, HB 1453, was first introduced last year. Washington State has one of the highest excise taxes on cannabis in the country, and the goal was to synchronize the existing medical exemptions from standard sales and usage taxes with the 37% excise tax levied on marijuana transactions. The measure successfully passed both the House and the Senate with a strong majority of votes.
Vendors must uphold eligibility records for the exemption and document exempted amounts distinctly on excise tax forms. The proceeds from the excise tax on non-medical marijuana are then directed to a designated account. The law also says that every so often, the state’s Liquor and Cannabis Board, along with the Department of Revenue, should suggest changes to the rules to stop illegal sales while keeping medical marijuana affordable. Plus, they will have to provide updates to lawmakers every two years about how marijuana sales and taxes are doing.
Washington State has always been progressive when it comes to cannabis. They were one of the first states to legalize medicinal cannabis, and they legalized recreational cannabis alongside Colorado in 2012. The tax exemption will only stand to help patients further, eliminating the financial strain associated with high taxes.
Veriheal has satisfied millions of patients nationwide by giving them access to these benefits
Nonetheless, the imposition of a 37% excise tax presents a significant financial burden for medical marijuana patients and providers alike, who find themselves subjected to the same taxation rate as recreational consumers.
Fortunately, Washington lawmakers have taken decisive action to rectify this issue by instituting a clear distinction in taxation between recreational and medical marijuana. Acknowledging the medicinal value of cannabis, they have opted to exempt medical marijuana from the 37% excise tax, supplementing the existing exemptions from general and local sales and use taxes.
To become official, the bill must first be signed by state Governor Jay Inslee. Proponents of the bill are fairly confident that it will be moving forward, and it is set to take effect in about 90 days. his monumental decision underscores Washington State’s commitment to advancing equitable access to medical cannabis while fostering a regulatory framework conducive to the well-being of patients.
>> Learn more about Washington cannabis laws and see if you’re eligible for medical marijuana in Washington.
With the arrival of 4/20 comes the promise of festivals, mass smoke sessions, and camaraderie with fellow cannabis enthusiasts. But, while cannabis may promote social gathering for some, others prefer to consume their cannabis in the way of the introvert – that is, completely alone. If you’re not exactly a social smoker and still want…
It’s become increasingly common to hear stories of those suffering from serotonin syndrome, but for some, the full scope and depth of this mysterious condition remain shrouded in mystery. Are psychedelic drugs and cannabis capable of triggering this serious medical issue? In this post, we’ll dive into what serotonin syndrome is, how you may be…
The legendary stoner holiday 4/20 is upon us, and so are the transits and astrological happenings associated with it. As spring and warm weather begin to roll in, spirits lift, and people spend more time outside under the sun—and, of course, the stars. Smoking under the night sky is a thrilling experience. Whether you’re a…
Hash is more than just a hot trend with ancient origins: it’s the future of medical cannabis consumption. Because this form of concentrate is deliberately engineered to preserve the natural terpenes and cannabinoid profile of the cannabis plant, dabbing hash is perhaps the most efficient way to seek the potential benefits of medical marijuana –…
Cannabis use is increasing all around the world. The American marijuana industry was worth about $57 billion in 2023 and is projected to reach $444 billion by 2030, a staggering growth that reflects it as the fastest-growing industry anywhere in the world. Veriheal consistently stays abreast of current trends by conducting routine surveys among our…
Get your medical marijuana card today
Sign up in under 5 minutes
