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Oregon State Marijuana Taxes Bring in $60 Million for 2016

Recreational marijuana sales in Oregon produced $60.2 million in state tax ­revenue in 2016, the first year of state-taxed pot sales.

For much of the year, ­marijuana sellers collected a 25 percent sales tax.

To produce the $60.2 million in tax revenue reported by the state Department of Revenue on Friday, total retail sales of marijuana and ­pot-laced products last year would have had to equal about $241 million.

Marijuana tax revenues ­exceeded projections, said Mazen ­Malik, senior economist for the Oregon Legislative Revenue Office. He had estimated ­marijuana sales would produce $44 million during the year, $16 million less than what came in.

Higher-than-predicted prices for marijuana extracts and edibles may have contributed to the higher than projected tax revenues, Malik said.

Items such as marijuana brownies didn’t have a market before Oregon’s legalization of recreational pot, he said.

“Usually, people would not buy them from cornerside dealers,” Malik said. [Read more at The Register-Guard]

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