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Home 🌿 Marijuana Business News 🌿 It's Tax Time For Recreational Marijuana Dispensaries 🌿

It's Tax Time For Recreational Marijuana Dispensaries

Submitted by Marijuana News on Sun, 02/21/2016 - 12:37

The Oregon Department of Revenue says nearly a quarter of the recreational marijuana dispensaries haven't registered to pay the first installment tax on pot sales.

The deadline for dispensaries to register is February 29th. Pot retailers are required to pay a 25% sales tax on all recreational pot sold in January. Failure to register or pay the tax will result in late fees or other fines. The Register-Guard reports 80% of the medical dispensaries in the state have begun selling recreational pot alongside medical marijuana. But some retailers claim the tax will drive up the price of marijuana, making it unaffordable to lower income users without medical cards, who may also be in pain. Eventually, recreational stores will be separate from medical dispensaries. Some owners say they plan to return to selling exclusively medical pot after December 31st.

 

READ MORE: 
http://klcc.org/post/its-tax-time-recreational-marijuana-dispensaries
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