Wash. Pols Advance Bill Delaying Marijuana Tax Breaks

Law360, New York (February 26, 2014, 7:49 PM EST) -- Washington state lawmaker's took the first steps Wednesday toward approving legislation that would prevent marijuana cultivators from qualifying for the state's agriculture-related tax breaks.

The state's Senate Finance Committee voted to advance S.B. 6505, which would delay Washington tax benefits for the marijuana industry for 10 years. State officials estimate the bill would increase tax revenues by approximately $2.7 million in fiscal year 2015.

The bill's supporters have said that exemptions for the agricultural industry currently in Washington's tax laws were not originally intended for marijuana...
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