With the first month of legal recreational retail sales in the books, the Washington Department of Revenue is reminding marijuana producers, processors and retailers that their July tax return is due to Revenue by Aug. 25, 2014.
Revenue is one of two state agencies collecting taxes on recreational marijuana. Revenue collects retail sales tax from on the sales of marijuana, marijuana concentrates, useable marijuana, marijuana-infused products and related paraphernalia. Producers, processors and retailers also pay business and occupation taxes on their gross receipts.
Taxes generated in one month are due to Revenue by the 25th of the following month.
The state’s Liquor Control Board is separately collecting other taxes authorized by Initiative 502, which are due the 20th of each month.
As licenses are issued, Revenue mails a package of information about applicable taxes. The same details can also be found on Revenue’s website at dor.wa.gov/marijuana.
