Oregon Garners $14.7 Million in Taxes from Marijuana Sales in First Two Months of 2018

In the first two months of the year Oregon made over $14 million in taxes from legal marijuana sales.

According to Oregon’s Department of Revenue, the state garnered $8,001,999 in marijuana sales taxes in January of this year. This marks the largest amount of marijuana taxes the state has received in a given month since the start of legal sales a little over two years ago (beating out the previous high of $7.8 million in October, 2016). In February of this year there was a slight dip from January, but the state still brought in a considerable amount of taxes at $6,700,855.

The average of this two months puts the state on track to earn roughly $88 million in marijuana taxes for the year. This would surpass the $68,646,246 the state made in 2017, and the approximately $60 million made  in 2016.

In Oregon, 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%.

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