– Cannabis/Marijuana Industry News

Oregon brought in over $107 million in taxes from the legal sale of marijuana and marijuana products in 2018.

According to data released by the Oregon Department of Revenue, the state made $107,777, 721 in 2018 from marijuana taxes. This is significantly higher than the roughly $68 million made in 2017, and the $60 million garnered in 2016 (the first year of legal sales).

Of the $107 million in marijuana taxes Oregon earned in 2018,  $94,226,985 came from the statewide tax on marijuana (17%). The remaining $13,550,736 came from local taxes, which vary from city to city but can exceed 3%.

Oregon’s biggest single-month marijuana tax gain in 2018 came in November, with $11.6 million garnered. The lowest-earning month was February, with $7.7 million.

In Oregon, thanks to an initiative passed in 2014, 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; they first opened in 2016.

More data on Oregon’s marijuana market can be found by clicking here.

The post Oregon Garnered Over $107 Million in Marijuana Taxes in 2018 appeared first on TheJointBlog.

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