Economic advisors in Oregon have released their first estimate of what the state will make taxing marijuana sales. As in Colorado and Washington, the numbers are large and growing.
By the end of 2017, the state expects to have brought in as much as $67.2 million in marijuana taxes. That number is expected to grow to more than $156 million from 2017 to 2019, giving the state more than $210 million to distribute from marijuana tax coffers.
It also means that those who have invested in the marijuana industry are doing well.
“So far, Oregon’s first year of recreational sales closely tracks Colorado’s first year and outpaces Washington’s,” according to the Oregon Economic and Revenue Forecast. Both Colorado and Washington approved recreational sales ahead of Oregon, where 2016 was the first full year of sales.
The report is prepared four times a year by the Office of Administrative Services, with review and input from the department’s Economic Advisory Committee and the governor’s Council of Economic Advisors.
This is the first report to contain projections on marijuana tax revenue.
4 factors differentiate Oregon.
The report states that getting a handle on projections for marijuana sales proves…