In California, analysts are saying the state could see $1 billion in tax revenue from marijuana when a new legalization law becomes effective in 2018, according to an article in the International Business Times. The recently approved Proposition 64 prescribes a 15 percent excise tax on adult-use and medical marijuana.
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Marijuana sales in Oregon were expected to bring between $2 million and $3 million in tax revenues this year, but the state’s take hit $10.5 million in the first quarter. Having exceeded the year’s expectations during the first three months of the year, Oregon’s tax revenues from pot sales are now forecast to reach $43 million in 2016.