Wash. Mulls Delaying Tax Breaks For Marijuana Industry

Law360, New York (January 21, 2014, 5:00 PM EST) -- The chairman of the Washington state House Finance Committee on Tuesday urged his colleagues to back legislation that would prevent marijuana cultivators from qualifying for the state's agriculture-related tax breaks, saying regulators need more tax information on growers.

Members of the committee are currently considering a bill sponsored by Reuven Carlyle, D-Seattle, that would delay state tax benefits for the marijuana industry for 10 years. Washington officials estimate the bill would increase tax revenues by approximately $3.5 million in fiscal year 2015.

Carlyle said marijuana growers...
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