Oregon School Fund Nets 40% of Cannabis Sales Tax Revenues

TG BranfaltMedical Cannabis0 Comments

A vector image of the state of Oregon spliced over an indoor cannabis grow's thick foliage.

Oregon public schools will reap 40 percent of the state’s cannabis-derived tax revenues collected from January 2016 to August 2017, or about $34 million, KATU News reports. In all, the state has collected $108.6 million in cannabis industry taxes since 2016.

The School State Fund will receive the lion’s share of the revenues while the state mental health, alcohol, and drug services fund will receive 20 percent of the tax revenues, or $17 million; the Oregon State Police will receive $12.75 million, or 15 percent; the Oregon Health Authority will receive $4.25 million, about 10 percent; and the Liquor Control Commission will receive $9.56 million.

All Oregon counties and towns will be given funds from the revenues collected prior to July 1, which totals about $17 million, or 10 percent. However, municipalities that voted to ban recreational cannabis sales will no longer receive any cannabis-derived revenues collected after July 1, 2017.

When the state adopted its adult-use cannabis regime, at least 111 communities held votes on whether or not to add a 3 percent tax to the state’s 17 percent tax on cannabis sales – more than 90 percent of those communities adopted the measure.

Source: Ganjaprenuer

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