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Oregon Has Earned over $25.5 Million From Marijuana Tax In 2016

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In January, Oregon legalized the sales of recreational marijuana. Since then, the state has earned about $25.5 million dollars in marijuana taxes. The state issues a 25% sales tax on all recreational marijuana sales in Oregon.

The number is close to the state’s economists’ projections going into the year. The state’s Department of Revenue says the medical marijuana dispensaries were required to file their returns for recreational sales by August 1st.

The tax numbers also show that edibles are quickly becoming more popular in the state. Regardless, many marijuana edibles are made and purchased on the black market making the product category hard to measure. Popular products include edible candies and snacks as well as drinks that have been infused with marijuana.

Recreational marijuana can only be sold in medical marijuana dispensaries at the moment, the Oregon Liquor Control Commission is working to finalize the rules for the recreational industry. They expect to have the rules finalized by next year. The rules will replace the current tax rate with a new one ranging from 17 to 20 percent for recreational marijuana.

The Legislature set the base tax rate at 17 percent, but cities and counties can adopt ordinances that add up to 3 percent more.

 


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2 responses to "Oregon Has Earned over $25.5 Million From Marijuana Tax In 2016"

  1. Yvette Cardera Aug 23, 2016 at 12:48

    Oregon should be pleased about those numbers! My Indian friend D’s will be happy for the 5-8% decrease in taxes! I’ll pass this on.

    Reply

  2. New Polls Show That Oregon Voters Approve Of Marijuana Legalization | Weed Shops Sep 20, 2016 at 12:00

    […] first six months of legal recreational cannabis sales in Oregon, the state has already earned over $25.5 million in taxes, putting the state on track for over $50 million for the first […]

    Reply

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