Oregon Garners $15 Million in Cannabis Taxes in First Five Months of 2016
Legal cannabis sales in Oregon have netted the state roughly $15 million in taxes in the first five months of the year (from January 1st to May 30th). This is according to data released by the Oregon Department of Revenue.
Although the number pales in comparison to the $50 million in taxes Colorado has gained from cannabis sales in just the first four months of this year, Oregon’s sales are based strictly on the relatively small number of medical cannabis dispensaries that have opted to take advantage of a law passed last year that allows them to sell to anyone 21 and older – patient or not – until licensed cannabis retail outlets open next year (these outlets will be licensed by the Oregon Liquor Commission).
The tax on cannabis sales through dispensaries is currently set at 25%. Anyone 21 and older in Oregon is allowed to possess up to an ounce, though dispensaries can only sell up to a quarter ounce.