Oregon City Approves Tax on Recreational Cannabis Prior to Vote on Legalization
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The Lake Oswego City Council has
voted to approve a 10% tax on recreational cannabis, weeks prior to the state’s votes this November on Measure 91, which would legalize the possession, cultivation and state-licensed distribution of cannabis for those 21 and older.
The Council also produced a 5% tax on medical cannabis. Both taxes will be on gross sales.
On November 4th, voters will decide the fate of Measure 91, which would legalize the possession and sale of up to 8 ounces of cannabis. According to a study released in July by ECONorthwest, the price of cannabis is likely to be around $140 an ounce of Measure 91 is approved.
– TheJointBlog