Meanwhile, Dispensaries Stopped Selling Recreational Pot.

SALEM, Ore. The marijuana business in Medical marijuana Oregon is becoming a bonanza for the state. The Oregon Department of Revenue announced Tuesday it received $5.3 million in marijuana tax payments in January. The grand total of $65.4 million received in the year since Oregon started taxing pot sales is blowing the original estimate out of the water. Related: Report: Americas marijuana industry headed for $24 billion by 2025. In January 2016, the state started collecting a 25-percent tax from medical marijuana dispensaries’ recreational sales. A year later, recreational pot shops which first opened in Oregon five months ago began charging a 17 percent tax. Meanwhile, dispensaries stopped selling recreational pot. Even though the tax rate has dropped, money is still flowing into state coffers. Still, it is a drop in the ocean compared to an expected $1.8 billion budget shortfall, which the Legislature is now trying to resolve. “The (marijuana tax) numbers suggest very strong collection,” said Mazen Malik, senior economist with the Legislature.

To read more visit http://www.summitdaily.com/news/oregon-marijuana-tax-revenue-is-crushing-original-estimates/

Comments are closed.