Oregon Collects $25.5m in Cannabis Taxes

Oregon Collects $25.5m in Cannabis Taxes

Oregon has processed $25.5 million in tax payments from recreational marijuana from January through the end of July.

The state’s Department of Revenue says medical marijuana dispensaries were required to file their second-quarter returns for recreational marijuana by Au. 1.

Oregonians legalized recreational marijuana in late 2014.

It can only be sold by medical marijuana dispensaries until the Oregon Liquor Control Commission finalizes rules for the new industry. A move that is expected to happen this year.

Medical marijuana dispensaries started collecting a 25 percent tax on their recreational marijuana sales in January.

Anticipated state revenue from recreational marijuana through June 2017 was recently quadrupled by Oregon’s Legislative Revenue Office.

The expected amount rose from $8.4 million to $35 million.