Tuesday, March 26, 2013

Washington Pot Bill Would Tax Premium Marijuana Strains

A bill is being introduced in the state of Washington that would tax marijuana brand names and trademarks. This bill was heard by the House Finance Committee and it calls for a marijuana tax of $3.60 per $1,000 on all trademarks, trade names, patents and copyright marijuana strains. This would be in addition to the 25% tax that will be assessed at each stage of the marijuana process, including the selling, growing, and processing of marijuana.

"I think that this reflects the uniqueness of the situation. What was the value of Marlboro as a trade name back when it was filed as a trade name or brand name?”
                                      ---Jeff Morris, Washington Democratic Representative

The bill specifies that this specific tax revenue would go into a special fund for agricultural research, specifically research for health benefits. Some of this research includes research that is currently being done at Washington State University to create plasma from wheat to make gluten-free wheat. Although Morris was quick to point out that this tax was not meant to replace state funding of research, only to enhance it.

At the present time, the amount of this tax's potential revenue is unknown, mostly due to the fact that this industry does not yet exist and the federal government may still block Washington's pot law from actually taking effect.

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