Article by TG Branfalt Jr, Ganjapreneur
Recreational cannabis sales in Oregon hit $160.8 million through the first nine months of the year, resulting in $40.2 million in sales tax payments, according to a Register-Guard report. Sales of recreational cannabis sold at medical marijuana dispensaries are taxed 25 percent, but sales by retailers licensed this month by the Oregon Liquor Control Commission are taxed 17 percent.
As of Monday, just three dispensaries have been approved as recreational retailers — two in Eugene and one in Cottage Grove. Medical dispensaries must get licensed by the Control Commission by the end of the year to continue operating as recreational retailers. Dispensaries can opt out and continue operating as medical-only suppliers.
The Department of Revenue indicated they are still waiting on some dispensaries to file their quarterly returns, which will provide details about which recreational cannabis products sold the most.
Officials are expecting to license 350 recreational retailers by 2017, with a total of 550 expected by 2019, according to a report from the Revenue Department. According to the Marijuana Business Daily Factbook, recreational sales in the state were projected to be between $180 million and $220 million for the entire year.