Marijuana tax revenues reach $3.48M in first month of sales

Revenues reflect the temporary 25% tax on sales applied to businesses on January 4.

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While state officials were quick to caution that it will take time to get an accurate view of the money coming in through marijuana sales, the early estimate shows pot may be a bigger boon than initially thought for Oregon’s schools and police, which receive a portion of tax revenue.

…The Department of Revenue won’t identify where the $3.48 million collected so far came from. The agency considers dispensaries to be individual taxpayers whose taxes are exempt from public disclosure, making it difficult to tell where marijuana sales in Oregon are occurring.

(READ MORE: Bend Bulletin)

Legislature recently passed the marijuana edibles bill. In the meantime, Oregon Health Authority told medical dispensaries to avoid selling cannabis extracts from unlicensed processors.

The health authority won’t launch its licensing process for extract makers until next month, a delay likely to disrupt the marijuana processing industry, which churns out popular butane hash oil, or BHO, and CO2 oil for the medical market.

Already, Bend-based Lunchbox Alchemy, which makes BHO, has halted production. The company’s products are sold in 220 dispensaries statewide.

(READ MORE: Oregon Live)

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