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Marijuana dispensaries selling recreational marijuana sold an estimated $27 million in pot during the month of February. The state on Wednesday released the latest tax collection data.

(The Oregonian)

Oregon dispensaries have something to celebrate on this stoner holiday: They've sold an estimated $27 million worth of recreational marijuana since the start of the year.

The Oregon Department of Revenue on Wednesday said it collected $6.84 million in taxes from sales of recreational pot in January and February. The figure doesn't include medical marijuana sales, which remain untaxed.

The state says about 320 medical marijuana dispensaries were selling recreational pot in Feburary.

The state announced last month that it had collected $3.48 million in taxes from the first month of sales. Since then, it has collected another $3.38 million.

Tax collections so far have blown out economists' predictions for the first year of taxed pot sales. Those estimates ranged from $2 million to $3 million after the state paid for the costs of regulation.

Oregon's medical marijuana stores have been allowed to sell a limited amount of cannabis flowers, as well as starter marijuana plants and seeds, to anyone 21 and older since last October.

The Oregon Legislature this year expanded the types of products that can be sold to recreational customers, but the state has not drafted rules for those expanded sales.

The state's temporary 25 percent tax on recreational pot kicked in Jan. 1.

That tax will eventually be replaced with one ranging from 17 percent to 20 percent once the Oregon Liquor Control Commission assumes control over recreational marijuana sales later this year.

The Legislature set the base tax rate at 17 percent, but cities and counties may adopt ordinances that add up to 3 percentage points more.

Next year, the first full year of sales under the liquor commission, state economists expect recreational cannabis sales to generate $10.75 million in tax revenue after the state covers startup costs. That number is expected to climb to $62.42 million for the 2017-2019 biennium.

Wednesday's announcement comes on 4/20, widely viewed as an unofficial holiday for marijuana enthusiasts.

-- Noelle Crombie