Oregon: First Week of Recreational Sales Tops $11 Million
Oct 08, 2015 01:30PM ● Published by Stephanie Wilson
The Oregon Retail Cannabis Association told KGW Portland that first-day sales on October 1 reached $3.5 million. This is great news for the state, which now believes it vastly underestimated the amount of money it will make when pot taxes kick in come January 1.
According to KWG Portland:
When Oregon voters approved recreational marijuana, the state set an estimate of $9 million in net tax revenue for the first full year of 2017. But the Oregon Retail Cannabis Association believes it'll bring in three to four times that much.You can watch the whole segment and here from some of the local dispensaries and budtenders here.
Oregon recreational marijuana sales are all tax-free until January. Once that 25 percent tax gets added on, it'll go to help fund schools, mental health programs, state police and the cities and counties that are allowing recreational sales.