Oregon Garners $9 Million in Marijuana Taxes in May
Oregon garnered $9 million in marijuana taxes in May.
According to the state’s Department of Revenue, Oregon garnered $9 million in marijuana sales taxes in May. Only one time in the state’s history has more marijuana tax revenue been garnered in a single month (January of this year with $9.3 million).
Of the $9 million in taxes garnered in May, $7.8 million came from a 17% statewide sales tax, with the remaining $1.2 million coming from citywide taxes (which under law can be as high as 3%).
Oregon is currently on tract to garner roughly $100 million in marijuana taxes for all of 2018. This would mark a 47% increase from the $68 million in taxes the state brought in from legal marijuana sales in 2017.
In Oregon the possession of up to an ounce of marijuana is legal for those 21 and older, thanks to a citizen’s initiative passed in 2014. The state has a licenses and regulated system of marijuana businesses, including retail outlets.