Oregon made nearly $8 million in taxes from legal marijuana sales in March, a slight increase from the month prior.
According to Oregon’s Department of Revenue, the state garnered $7,839,406 in marijuana sales taxes in March of this year. $6,768,304 of this came from state sales taxes, with the remainder coming from local marijuana taxes. This is a slight increase from the $6,700,855 in marijuana sales taxes garnered in February ($7,708,791 when counting local taxes).
With the newest data the state is on tract to garner nearly $90 million in marijuana taxes for 2018. This would well surpass the $68,646,246 the state made in 2017, and the approximately $60 million made in 2016.
In Oregon, thanks to an initiative passed in 2014, the possession of up to an ounce of marijuana is legal for those 21 and older. Marijuana retail outlets, licensed by the state, are authorized to sell the plant. The marijuana tax rate is 17%, with localities allowed to ad up to an additional 3%.
The post Oregon: Nearly $8 Million in Marijuana Taxes Garnered in March appeared first on TheJointBlog.
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Author: Anthony Martinelli