Finance

Bill Blocks Pot Producers from Agricultural Tax Breaks in Washington

January 22, 2014

Marijuana producers in Washington would be prohibited from qualifying for agriculture tax breaks under a bill considered Tuesday by state lawmakers.

Officials estimate the industry could qualify for three dozen different tax breaks, largely surrounding agricultural production. A state House committee is exploring a bill that would block those tax breaks for 10 years.

Rep. Reuven Carlyle, D-Seattle, a sponsor of the bill, said it’s important that marijuana producers pay taxes so that lawmakers will have access to data in order to make better decisions in the future.

Carlyle said he doesn’t think the tax preferences were designed to help the marijuana industry, now under development after voters approved legalization in 2012.

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