Oregon marijuana tax revenue projected to be higher than expected

Salem, Ore. — Tax revenue from recreational marijuana is expected to take in millions more than originally predicted.

The Oregonian reports the state is now expecting to take in $43 million instead of the $2-3 million forecast at the beginning of the year.

According to the Department of Revenue, Oregon has collected $1.5 million in the first three months.

Recreational marijuana is subject to a 25% tax. Economists say the cost of regulating marijuana is about $12 million.

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