Oregon’s Recreational Cannabis Tax Revenue For 2016 Exceeded One Original Estimate More than Six-Fold

New source of funding is a bright spot in state's finanical picture.

(IMAGE: Wendy McCormick , https://wendymccormick.com)

As legislators begin grappling with a $1.8 billion gap between revenues and what they'd like to spend over the next two years, new figures show that tax receipts from recreational marijuana continues to vastly exceed early projections.

For calendar year 2016, according to information the Oregon Department of Revenue released Friday, marijuana tax receipts totaled $60.2 million.

One early estimate from the Oregon Liquor Control Commission, which regulates marijuana, projected receipts for the 2015-17 budget period, which runs through June 30, 2017, would only total $10.7 million. Another estimate projected $16 million for the 18 month period—but even if you added the two numbers together, they completely underestimated Oregonians' demand for cannabis.

Here's what the tax receipts look like by month:

Oregon Department of Revenue

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