Christine Green
New Member
Oregon tax revenue from marijuana sales $40 million higher than what economists predicted, similar plan recommended for New Jersey.
Smoking greens are expected to raise $43 million in spending greens for Oregon this year, already raising $10.5 million in tax revenue in the first three months.
The profitable pot sales were originally estimated to bring $2 million to $3 million for 2016 in Oregon — a figure sales revenue smashed within the first month at $3.48 million from January’s deposits.
Taxes for marijuana sales range from 17-25%, depending on where customers are buying it from.
San Francisco's last gun shop will become pot shop.
The majority of customers are paying for marijuana in cash, earning up to $90,000 in sales from individual dispensaries in a month, according to the Oregon Department of Revenue’s Committee on Marijuana Legalization report.
Since legalization in October, Oregon has seen 337 businesses budding in as marijuana dispensaries.
The extra revenue from the marijuana sales tax is planned to be divided up, with the majority of the money going to education:
Marijuana sales are skyrocketing tax revenues for Oregon, at a rate much higher than economists estimated. Advocates for marijuana legalization in New Jersey claim the Garden State would see an even larger windfall of profits if it followed in Oregon’s footsteps.
The study from New Jersey United for Marijuana Reform claimed that the state could earn $300 million in annual sales tax revenue if the drug were legalized, considering that residents spend more than $869 million on illegal marijuana currently, according to the National Survey on Drug Use and Health.
The report estimates that 365,900 New Jersey residents age 21 and up use marijuana, and would net up to $1.2 billion in direct sales annually if it were legalized.
“The lessons from around the country are loud and clear: marijuana legalization makes fiscal sense, and it makes practical sense,” analyst Brandon McKoy, a co-author of the report said in a statement.
K2 ER visits down since synthetic marijuana epidemic's start.
The study predicts that legalization would bring an influx of buyers from neighbors in New York and Pennsylvania as well.
The group’s proposal butts heads with New Jersey’s governor Chris Christie, who has consistently remained planted in his war on drugs.
Christie has bluntly opposed marijuana legalization, promising to veto any bills that come up.
News Moderator: Christine Green 420 MAGAZINE ®
Full Article: Oregon tax revenue from marijuana higher than expected - NY Daily News
Author: Alfred NG
Contact: voicers@nydailynews.com
Photo Credit: None Found
Website: Oregon tax revenue from marijuana higher than expected - NY Daily News
Smoking greens are expected to raise $43 million in spending greens for Oregon this year, already raising $10.5 million in tax revenue in the first three months.
The profitable pot sales were originally estimated to bring $2 million to $3 million for 2016 in Oregon — a figure sales revenue smashed within the first month at $3.48 million from January’s deposits.
Taxes for marijuana sales range from 17-25%, depending on where customers are buying it from.
San Francisco's last gun shop will become pot shop.
The majority of customers are paying for marijuana in cash, earning up to $90,000 in sales from individual dispensaries in a month, according to the Oregon Department of Revenue’s Committee on Marijuana Legalization report.
Since legalization in October, Oregon has seen 337 businesses budding in as marijuana dispensaries.
The extra revenue from the marijuana sales tax is planned to be divided up, with the majority of the money going to education:
- 40% to the Common School Fund
- 20% to Mental Health Alcoholism and Drug Services Account
- 15% to Oregon State Police
- 5% to Oregon Health Authority for “alcohol and drug abuse prevention”
- 20% to local jurisdiction
Marijuana sales are skyrocketing tax revenues for Oregon, at a rate much higher than economists estimated. Advocates for marijuana legalization in New Jersey claim the Garden State would see an even larger windfall of profits if it followed in Oregon’s footsteps.
The study from New Jersey United for Marijuana Reform claimed that the state could earn $300 million in annual sales tax revenue if the drug were legalized, considering that residents spend more than $869 million on illegal marijuana currently, according to the National Survey on Drug Use and Health.
The report estimates that 365,900 New Jersey residents age 21 and up use marijuana, and would net up to $1.2 billion in direct sales annually if it were legalized.
“The lessons from around the country are loud and clear: marijuana legalization makes fiscal sense, and it makes practical sense,” analyst Brandon McKoy, a co-author of the report said in a statement.
K2 ER visits down since synthetic marijuana epidemic's start.
The study predicts that legalization would bring an influx of buyers from neighbors in New York and Pennsylvania as well.
The group’s proposal butts heads with New Jersey’s governor Chris Christie, who has consistently remained planted in his war on drugs.
Christie has bluntly opposed marijuana legalization, promising to veto any bills that come up.
News Moderator: Christine Green 420 MAGAZINE ®
Full Article: Oregon tax revenue from marijuana higher than expected - NY Daily News
Author: Alfred NG
Contact: voicers@nydailynews.com
Photo Credit: None Found
Website: Oregon tax revenue from marijuana higher than expected - NY Daily News
