Oklahoma medical marijuana tax collections

OKLAHOMA CITY - Tax collections for the medical marijuana industry hit a new high in August, showing revenue growth for the 11th straight month since the first tax collections in October 2018.

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Oklahoma collected nearly $2.8 million in August in Medical Marijuana Tax, as well as nearly $3.6 million in sales tax at medical marijuana dispensaries. The tax revenues combined for more than $6.3 million.

The sales tax is assessed at the same rates as other products and varies throughout the state, while the Medical Marijuana Tax is a 7% additional tax for medical marijuana sold to consumers by dispensaries.

Both hit new highs for the industry, but are showing signs of slowing as the industry approaches an equilibrium point.

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