SALEM — Oregon’s first month of tax revenue from recreational marijuana sales was greater than the first take of any other state so far where recreational sales have been legalized.
The Oregon Department of Revenue reported Thursday, March 17, that the agency collected about $3.48 million in recreational cannabis taxes in January.
Although each state’s tax structure differs, Oregon’s tax receipts exceeded even state economists’ expectations, boosted in part by an already robust medical marijuana industry and a three-month period of sales before the tax took effect.
State economists had projected $2 million to $3 million in tax revenue for the first year, after subtracting the cost of regulating the market, said Mazen Malik, senior economist with the Oregon Legislative Revenue Office. His office has yet to calculate the overall cost of regulation, he said.
“It is probably too early to make the conclusion on what is the overall picture out of this first month,” Malik said.
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