Edibles in Oregon Expected to Increase State Tax Revenue

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According to a new report from the Oregon Legislative Revenue Office, the state expects recreational sales tax revenue volume to increase by 10 percent for June 2016.

As of May 2016, sales tax revenue payments were averaging a total of $3.5 million per month; however, registered medical cannabis dispensaries started selling edible products to adults on June 2, which is why the LRO has estimated that recreational sales tax revenue volume will increase by 10 percent for the month.

According to the LRO’s report, “The monthly rate for the whole year is likely to end up at $3.7 million.”

“It is a new range of products, a new market, and not necessarily the same market that marijuana leaves have been in for a long time,” said Mazen Malik, the senior economist at the Oregon Legislative Revenue Office, to the Statesman Journal. “Sales should be toward the higher end (of a 10 to 15 percent boost) in the beginning of the month, and then come down. People want to see how this works.”

The staff byline designates content that has been written by a staff writer of MJINews.

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