- Associated Press - Friday, March 25, 2016

SALEM, Ore. (AP) - Salem officials are considering whether to implement a 3 percent tax on recreational marijuana sales.

The Statesman Journal reports (https://goo.gl/WSWrNc ) that the City Council heard the proposal last week that would put the potential sales tax on the November ballot. If approved, the law could take effect as soon as January.

Staffers estimate the city could bring in $100,000 in revenue from the sales tax during the 2016-17 fiscal year. But the city may not be able to deposit the revenue into its account with U.S. Bank, because marijuana is still illegal under federal law.

U.S. Bank representatives told city staff the bank would not accept pot tax deposits until the corporate office orders them to.


Information from: Statesman Journal, https://www.statesmanjournal.com



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