Through the end of July, Oregon has collected $25.5 million in tax payments from adult-use marijuana sales this year. Established medicinal marijuana dispensaries are currently selling to all adults, but with a 25 percent tax tacked on. While the Oregon Liquor Control Commission finalizes its regulations for new businesses, Oregonians can only buy cannabis at medicinal dispensaries.
According to a recent Ganjapreneur article, Oregon’s Legislative Revenue Office has quadrupled the expected revenues from the cannabis industry through June 2017, from $8.4 million to $35 million. According to Mazen Malik, a senior economist, the jump is party attributed to the popularity of edibles:
“We know some people would embrace them because they don’t like smoking, for example, so it would be an easier thing to go to,” he said in an Oregonian report. “Others would just want to try them because they are new and different and they want to see how they work.”
Oregon’s Liquor Control Commission is currently processing more than 1,300 applications for marijuana business – almost all of them for growers – and medicinal dispensaries will have the opportunity to convert their existing business to the adult-use model by the end of this year. This is just the beginning of Oregon’s cannabis cash flow – welcome to the green side, in more ways than one.