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Oregon: First Week of Recreational Sales Tops $11 Million

Oct 08, 2015 01:30PM, Published by Stephanie Wilson, Categories: Features



In a record-setting first week, recreational marijuana sales in Oregon topped $11 million dollars, far surpassing the $5 million sold here in Colorado during the first week of recreational sales. In Washington, the third state where recreational sales are legal, it took about a month to reach just $2 million in sales, according to Marijuana Business Daily.  

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.
...
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.

You can watch the whole segment and here from some of the local dispensaries and budtenders here


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