Marijuana taxes reach $6.84M

Recreational marijuana sales generated $6.84 million in tax revenues in the months of January and February.

[The Oregon Department of Revenue] announced last month that it had collected $3.48 million in taxes from the first month of sales. Since then, it has collected another $3.38 million.

Tax collections so far have blown out economists' predictions for the first year of taxed pot sales. Those estimates ranged from $2 million to $3 million after the state paid for the costs of regulation. 

Oregon's medical marijuana stores have been allowed to sell a limited amount of cannabis flowers, as well as starter marijuana plants and seeds, to anyone 21 and older since last October.

(READ MORE: Oregon Live)

The state recently set up an office in Salem solely for dispensary owners who are paying taxes. The Statesman Journal explains the process, here.

Oregon dispensaries sold about three tons of marijuana so far this year.

Are those coming from out of state to make money on Oregon cannabis visionaries or carpetbaggers? Find out in the OB feature, "Sara Batterby Ventures into Cannabis."

RELATED NEWS: Bend, La Pine consider marijuana tax; DEA to decide on marijuana reschedule; Marijuana updates.

Last modified onThursday, 21 April 2016 11:47

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