Oregon Cannabis Tax Revenue Up 45 Percent in First Quarter

Oregon cannabis tax revenue numbers are currently up as of this quarter, with the area seeing an increase of 45 percent for the first quarter of the 2021 fiscal year over the first quarter of 2020. 

This most recent quarter, which began on July 1, brought in $46.9 million in total, 45 percent more than the first quarter in tax revenue receipts. 

So far, since the pandemic began, cannabis sales in Oregon have either exceeded sales in the past or been only slightly off from annual averages. There has been no negative impact in sales from COVID

Since cannabis has been legalized in Oregon, there has been some debate over how the tax revenue from cannabis dollars should be used in the state. There is still no firm agreement in place on how the tax money should be spent, but the one thing that is clear is that there is a lot of it. 

Even back in September, economists for the state projected that there would be big gains in tax revenue, as sales have been boosted by the COVID pandemic and have remained up. Despite the generous projections back then, these numbers are now looking even more impressive.

Analysts

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