Increases the cannabis excise tax on high THC cannabis products in Washington.

The bill increases the cannabis excise tax on high THC cannabis products in Washington. Specifically, it raises the tax rate to 50 percent of the selling price for cannabis concentrates and useable cannabis with a THC concentration greater than 35 percent. The tax is separate from general state and local sales and use taxes. The board must regularly review the tax levels and report to the legislature on sales and tax collections, among other metrics. The tax applies to all retail sales in the state.

Increases the cannabis excise tax on high THC cannabis products in Washington.

The bill increases the cannabis excise tax on high THC cannabis products in Washington. Specifically, it raises the tax rate to 50 percent of the selling price for cannabis concentrates and useable cannabis with a THC concentration greater than 35 percent. The tax is separate from general state and local sales and use taxes. The board must regularly review the tax levels and report to the legislature on sales and tax collections, among other metrics. The tax applies to all retail sales in the state.