Category Archives: Dept. of Revenue

Costs of administering pot taxes escalating

The tax has proven a considerable windfall for the state, but it has also created complications for the state’s tax-collecting agency. The costs of administering Oregon’s recreational marijuana tax have escalated since initial estimates in 2015, and may be poised to increase again.   Source: Oregon Local News – Costs of administering pot taxes escalating

Oregon tax changes to know: Wolves, marijuana, charities and more

Have wolves been eating your livestock? In past years, Oregon taxpayers could claim a credit on their taxes if they could prove they’d lost animals to wolf attacks. No longer. Oregon wolves are no longer endangered, so state law no longer allows the credit. Source: Oregon tax changes to know: Wolves, marijuana, charities and more […]
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Individual Income Tax Insights: Oregon Tax Court Says ‘No’ to State Refund Offset for Spouse’s Federal Student Loan Debts

The growing student debt crisis has been the subject of much discussion over the last several years. As of Dec. 31, 2016, the total outstanding amount of federal student loan debt in the United States was almost $1.3 trillion, according to data compiled by the U.S. Department of Education.[1] In addition to this massive burden […]
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State reports receiving $5.3 million in marijuana tax payments in January

The Oregon Department of Revenue reported on Tuesday it had received $5.3 million in marijuana taxes for the month of December. Since February 2016, the state has collected a total of $65.4 million in marijuana tax payments. The current state revenue distribution formula will disburse the $65.4 million as follows: schools, 40 percent; mental health/addiction, […]
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Lawmakers hear cannabis banking report

Federal law to blame for cannabis cash pile The Oregon Department of Revenue expects little change in the near future to federal regulations that effectively block legal marijuana businesses from receiving banking services. At a hearing Tuesday of the Oregon House Revenue Committee, Deanna Mack, legislative liaison for the revenue department, told lawmakers that until […]
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Oregon pot tax revenue continues decline

The trend line for Oregon’s marijuana tax revenue gains is starting to look like one of the state’s many mountains: It went up first, then plummeted down. Source: Oregon pot tax revenue continues decline

Oregon cannabis sales still brisk; Bill would hike local sales tax

The Oregon Department of Revenue on Tuesday reported $5.3 million in marijuana tax payments received in January, the same day the House Revenue Committee heard testimony on a proposal to increase the local sales tax on pot to 8 percent.Retailers are selling $7 million worth of marijuana every week in Oregon, $4.5 million of it […]
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Marijuana taxes collected continue to decline

Sales of recreational marijuana in Oregon continued to plummet in December, figures from the Department of Revenue show. Taxes collected on sales totaled $5.6 million in December, a 13 percent decline from November and a 28 percent drop from the peak of $7.8 million in October. Source: Marijuana taxes collected continue to decline

Oregon rakes in $60 million in state sales taxes from marijuana

Recreational marijuana sales in Oregon produced $60.2 million in state tax ­revenue in 2016, the first year of state-taxed pot sales. For much of the year, ­marijuana sellers collected a 25 percent sales tax. Source: Oregon rakes in $60 million in state sales taxes from marijuana | Local | Eugene, Oregon

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 financial picture. 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. Source: Oregon’s Recreational Cannabis Tax Revenue […]
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