Oklahoma § 63-426 - Tax on retail medical marijuana

§ 63-426. Tax on retail medical marijuana

A. The tax on retail medical marijuana sales shall be

established at seven percent (7%) of the gross amount received by

the seller.

B. This tax shall be collected at the point of sale. Except as

provided for in subsection D, tax proceeds shall be deposited into

the Medical Marijuana Tax Fund created in Section 3 of this act.

C. Pursuant to Section 255.2 of Title 68 of the Oklahoma

Statutes, the Oklahoma Tax Commission shall have authority to

assess, collect and enforce the tax specified in subsection A of

this section including any interest and penalty thereon.

D. For fiscal year 2022, proceeds from the levy authorized by

subsection A of this section shall be apportioned as follows:

1. The first Sixty-five Million Dollars ($65,000,000.00) shall

be apportioned as follows:

a.

fifty-nine and twenty-three hundredths percent

(59.23%) to the State Public Common School Building

Equalization Fund,

b.

thirty-four and sixty-two hundredths percent (34.62%)

to the Oklahoma Medical Marijuana Authority, a

division within the State Department of Health, and

c.

six and fifteen hundredths percent (6.15%) to the

State Department of Health and earmarked for drug and

alcohol rehabilitation; and

2. Any surplus collections shall be apportioned to the General

Revenue Fund of the State Treasury.

E. If any medical marijuana business licensee intentionally

does not remit the taxes as required by the provisions of this

section or the provisions of Section 1354 of Title 68 of the

Oklahoma Statutes, the Authority shall permanently revoke the

medical marijuana business license of the business licensee and the

business licensee shall be permanently ineligible to receive any

other type of medical marijuana business license issued by the

Authority, including licenses for a dispensary, commercial grower

operation, processing facility, transporter, research, education

facility, and waste disposal facility.

Added by Section 7, State Question No. 788, Initiative Petition No.

412, adopted at election held June 26, 2018, eff. July 26, 2018.

Amended by Laws 2021, c. 563, § 2, emerg. eff. May 28, 2021; Laws

2022, c. 228, § 27, emerg. eff. May 5, 2022; Laws 2023, c. 168, § 1,

Oklahoma Statutes - Title 63. Public Health and Safety

Nov. 1, 2023; Laws 2023, 1st Ex. Sess., c. 34, § 1, eff. July 1,

2023.

NOTE: Laws 2021, c. 584, § 13 repealed by Laws 2022, c. 228, § 28,

emerg. eff. May 5, 2022. Laws 2021, c. 553, § 6 repealed by Laws

2022, c. 228, § 29, emerg. eff. May 5, 2022.