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Washington Legalizes Cannabis for Recreational Use- Huge Economic Benefits Estimated
Washington Legalizes Cannabis for Recreational Use- Huge Economic Benefits Estimated
Washington State has legalized marijuana consumption last year which can bring huge economic benefits. Washington Cannabis Institute is holding a live seminar soon for teaching on establishing cannabis business
Seattle,
WA,
United States of America
(sardnews.org)
26/04/2013
The marijuana connoisseurs in the Washington state seem to be in amazing mood lately- The state of Washington has reportedly legalized cannabis consumption for recreational use since the past November election. The latest legal reform is speculated to come up with huge economic benefits for the state.
The state of Washington has passed the Initiative 502 measure that legalizes consumption small ounces of marijuana & marijuana products for recreational purposes. As per the new law, adults over twenty one years of age in Washington State are legally permitted to possess up to 1 ounce of marijuana. The licensed marijuana sellers and growers would also be permitted to grow marijuana at home or/and sell it. However, the marijuana users won't be allowed to smoke in public or drive under the cannabis influence. In case of marijuana sellers, the sale has to be confined with the state of Washington. The license would be valid for one person only and should specify name & location of the seller. As per the reports, the legal sale could be started after Washington Liquor Control Board comes up with licensing module for manufacture & sale of cannabis which is supposed to be set up by 2013 December. There will be an excise tax of 25% for the marijuana sellers.
The legalization of marijuana has been received with overwhelming response. Several studies have claimed that marijuana can be effective for patients suffering from Alzheimer, severe pain and depression -but according to many economists, marijuana legalization can usher in great economic privileges for the state. Washington has estimated that consumption of cannabis legalization for recreational use can generate as huge as 1.9 billion USD as additional revenue in the coming 5 years. The economists in Washington State have also estimated that by the year 2017, legal-marijuana industry would be able to contribute around 567 million USD in the tax revenue. The economists demanding marijuana legalization have even shown that cannabis legalization can save the 7.7 billion USD a year in the state & federal expenditures which go for prohibition enforcement.
Washington Cannabis Institute has lately declared to hold a live seminar on May 18, 2013 to teach on the guidelines of starting up a cannabis business.
For more info on the live seminar, visit http://washingtonmarijuanaschool.com/
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