The medical marijuana industry is waiting for Gov. Kate Brown to sign a bill into law that would allow the state’s 310 dispensaries to sell recreational marijuana. Medical marijuana dispensary owners are hoping the bill goes into effect as many are struggling to keep their doors open. The problem is that the Oregon market is extremely saturated with producers of medical cannabis who are fighting over a limited supply of medical cannabis patients.
The bill would allow existing dispensaries to decide between being medical marijuana distributors or recreational distributors. Recreational dispensaries would be allowed to sell up to a quarter-ounce of flower to customers or four non-flowering plants at once. The ability to sell recreational marijuana would keep many dispensaries afloat, and even expand the industry in Oregon. Both in-state and visitor demand could lead to sales that could be tripled or quadrupled if the bill passes. There is an estimated 1 million recreational consumers in Oregon. Plus dispensary owners think that recreational use would increase tourism, especially from Washington State, which could bring in millions of dollars.
Currently, the average gram in Washington costs between $25 and $30, while in Oregon MMJ prices stand at $8-$10. These lower prices could be enough to attract substantial tourism from the neighboring states. Still recreational facilities may not get rich quick. Under the bill, the state could impose a 25% sales tax on recreational marijuana. There may also be government fees for dispensaries, plus Oregon’s health agency could also introduce more fees and rules. Also rec stores will almost certainly be taxed at a higher rate than medical marijuana dispensaries. Whether or not marijuana distributors will see profits from recreational marijuana is yet to be seen until the bill is signed by the Governor.
If recreational marijuana is allowed in Oregon, dispensaries will need competent medical marijuana payment processing. The marijuana payment solutions provided by MMA will help grow your company’s business by giving your customers more ways to pay for your products. Learn more about expanding your customer’s payment options beyond cash.
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