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State to start receiving revenue from pot sales

Jan. 4 marks the first day that taxes will be collected on recreational marijuana sales.

BY JACOB PALMER | DIGITAL NEWS EDITOR

Jan. 4 marks the first day that taxes will be collected on recreational marijuana sales.

A 25% tax goes into effect today.

Jan. 4 is also when the Oregon Liquor Control Commission will start taking applications for business licenses to open strictly recreational stores.

Tax revenue for the first year is estimated at $3 million. It's a low figure because the state will be paying off a loan and the extra staff and costs it's taking to implement Measure 91, which legalized recreational marijuana in Oregon.

(READ MORE: Portland Business Journal)

The inclement weather in Portland is making the unrolling a little more difficult for the state.

"It is unfortunate that the severe weather is upon us the same day that we begin accepting license applications for recreational marijuana," says Steve Marks, executive director of the liquor commission.

Hundreds are expected to apply for licenses to grow, process and sell marijuana in Oregon's regulated market. Businesses that plan to produce edibles and concentrates, test for potency and pesticides, conduct research or operate as wholesalers also must obtain licenses from the state. 

The liquor commission plans to process applications for labs and outdoor cannabis producers first. Officials want to ensure there are enough labs online to test for pesticides and potency before the retail market opens later this year.

(READ MORE: OregonLive.com)

 

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