Oregon Marijuana Legalization Study Predicts $38.5 Million In Taxes On $145 Ounces

Posted by Russ Belville – A new study compiled by ECONorthwest has predicted that Oregon will reap $38.5 million in marijuana tax revenue in the first fiscal year of legalization.  The Control, Regulation, and Taxation of Marijuana and Industrial Hemp Act promoted by New Approach Oregon has qualified for the November election ballot and will cap the taxation of marijuana at $35 per ounce for flowers, $10 per ounce for leaves, and $5 per immature marijuana seedling. The Act does not affect the Oregon Medical Marijuana Act, so researchers did not include the 64,000+ patients in their calculations.  In the first three years, analysts expect the legal market to capture 40% of Oregon’s current black market.  There are 436,000 adults 21 and older who are consuming marijuana on an annual basis, 314,000 who consume monthly, and 108,000 who consume at least two out of three days per month.  The study focuses...

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