Welcome! Login | Register
 

Can The Alliance Of American Football Find More Success Than The XFL?—Can The Alliance Of American Football Find More…

5 Questions On NBA All-Star Weekend Answered!—5 Questions On NBA All-Star Weekend Answered!

NEW: Trump to Declare National Emergency to Get More Money for Border Wall—NEW: Trump to Declare National Emergency to Get…

Portland Ranked 4th Healthiest City in U.S.—Portland Ranked 4th Healthiest City in U.S.

The “State of the Onion Address” in Review - Sunday Political Brunch February 10, 2019—The "State of the Onion Address" in Review…

Checking In On Seattle’s Arena Situation—Checking In On Seattle’s Arena Situation

Seahawks’ Offseason Primer – What Should We Make Of The Wide Receivers?—Seahawks’ Offseason Primer – What Should We Make…

Bandon Dunes Selected In World’s Top 20 Golf Courses According To Golfscape—Bandon Dunes Selected In World’s Top 20 Golf…

See Where Oregon Ranks Among Best States for Singles—See Where Oregon Ranks Among Best States for…

Seahawks Off-Season Primer – All Set In The Backfield—Seahawks Off-Season Primer – All Set In The…

 
 

Could Oregon Earn More Than $50 Million From Legal Pot Revenue?

Saturday, September 27, 2014

 

Photo Credit: PabloEvans via Compfight cc

Oregon could earn $54,558,596 a year from excise taxes on legal Marijuana, according to a study by NerdWallet

On Nov. 4 Oregon citizens will cast their ballots on Measure 91, which would legalize recreational marijuana. 

See Slides: 10 Western States And The Money Could They Make From Legal Pot 

The study, conducted by the NerdWallet, a financial calculator and advice site, used data from the Substance Abuse and Mental Health Services Administration to calculate the number of marijuana users 25 and over in each state in the U.S.

Nerdwallet then took the state’s users and multiplied them by the estimated value of the marijuana market in that state.

In Oregon, just over 10 percent of the population of residents 25 and over have smoked marijuana in the last month. The Beaver State's legal marijuana market, therefore, is worth about $363,723,974 a year, according to NerdWallet. 

The study set each state's tax revenue potential using sales and excise tax data from Tax Foundation. NerdWallet imposed a 15 percent excise tax (a tax levied on a specific good), established in Colorado after it legalized recreational marijuana.

Oregon's revenue estimate was based solely on excise taxes, since the state has no sales tax.

The country as a whole stands to gain just over $3 billion a year in tax revenue from legal marijuana sales, the study indicated. That's more than twice the budget of the Small Business Administration in 2013, according to NerdWallet. 

California could earn more than any other state from legal marijuana sales tax, at $519,287,052, which almost covers the 2013 budget for the California Department of Parks and Recreation.

Banner Photo Credit: iStock

 

Related Slideshow: Slideshow: 10 Western States And The Money They Could Make From Legal Pot

Oregon could earn $54,558,596 a year from excise taxes on legal Marijuana, according to a study by NerdWallet. The study also determined each state's marijuana market size, population percentage 25 and over who use, and the state's percentage of the U.S. pot market. See how these other Western states compared to Oregon. 

Prev Next

#10

Idaho

Revenue from sales/excise tax: $10,664,659

Marijuana market size: $50,711,646

Population over 25 who use marijuana: 3.77%

State’s percentage of U.S. marijuana market: 0.36%

Prev Next

#9

Montana

Revenue from sales/excise tax: $10,863,549

Marijuana market size: $72,423,663

Population over 25 who use marijuana: 7.94%

State’s percentage of U.S. marijuana market: 0.52%

Prev Next

#8

Utah

Sales Tax Revenue: $14,367,419

Marijuana market size: $66,270,383

Population over 25 who use marijuana: 3.04%

State’s percentage of U.S. marijuana market: 0.47%

Prev Next

#7

New Mexico 

Sales Tax Revenue: $27,911,140

Marijuana market size: $125,386,972

Population over 25 who use marijuana: 6.94%

State’s percentage of U.S. marijuana market: 0.90%

Prev Next

#6

Nevada 

Sales Tax Revenue: $36,100,059

Marijuana market size: $157,435,933

Population over 25 who use marijuana: 6.44%

State’s percentage of U.S. marijuana market: 1.12%

Prev Next

#5

Oregon

Sales Tax Revenue: $54,558,596

Marijuana market size: $363,723,974

Population over 25 who use marijuana: 10.25%

State’s percentage of U.S. marijuana market: 2.60%

Prev Next

#4

Arizona

Sales Tax Revenue: $70,208,995

Marijuana market size: $303,016,813

Population over 25 who use marijuana: 5.33%

State’s percentage of U.S. marijuana market: 2.16%

Prev Next

#3

Colorado

Sales Tax Revenue: $78,157,904

Marijuana market size: $349,075,052

Population over 25 who use marijuana: 7.63%

State’s percentage of U.S. marijuana market: 2.49%

Prev Next

#2

Washington

Sales Tax Revenue: $119,500,540

Marijuana market size: $500,421,024

Population over 25 who use marijuana: 8.11%

State’s percentage of U.S. marijuana market: 3.57%

Prev Next

#1

California

Sales Tax Revenue: $519,287,052

Marijuana market size: $2,218,227,477

Population over 25 who use marijuana: 6.74%

State’s percentage of U.S. marijuana market: 15.84%

 
 

Related Articles

 

Enjoy this post? Share it with others.

 

X

Stay Connected — Free
Daily Email