Senate: No Tax Breaks For Pot Production
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OLYMPIA (AP) — The Senate has unanimously passed a measure that would exclude producers of marijuana and marijuana-infused products from qualifying for agriculture tax breaks.
The measure passed Tuesday and now heads to the House for consideration. Under Senate Bill 6505, the industry would be excluded from three dozen different tax breaks, largely surrounding agricultural production.
The measure is one of a variety of proposed changes to the marijuana industry as the state works to implement the voter-approved law.
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.
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