Rx marijuana product sales total $75M in Oct.

  • Southwest Oklahoma Medical Marijuana Tax Receipts

OKLAHOMA CITY – Tax receipts from sales of medical marijuana products have been declining since a record-setting $5.5 million in June but still surpassed $5 million in October, for the sixth consecutive month.

During the first 10 months of this year the medical marijuana tax generated $46 million, and state and local sales tax collections on sales of marijuana products produced $59 million, for a ten-month total of $105 million, Oklahoma Tax Commission ledgers reflect.

During the past 25 months the medical marijuana tax has generated $70.55 million, the Tax Commission reported. Tax receipts from sales of marijuana products climbed to record highs in 18 of those months but appear to have leveled off.

The $5.25 million in October tax collections from the 7% marijuana tax represented $75 million in sales of medical marijuana products – an average of $208.10 for every Oklahoman who has a medical marijuana patient license.

Elgin contributed some of that; tax collections there from the medical marijuana tax, coupled with state and local sales taxes, more than tripled: from $9,311 in September to $30,838 in October. Hobart contributed, too; its combined tax collections from medical marijuana increased 59% between September and October. Similarly, Frederick’s collections shot up 83% during the same timeframe.

Medicine Park went the opposite direction. Its $222 in combined tax receipts in October were 79% less than collections in September. Almost one-tenth of all Oklahomans – 360,741 – had received medical marijuana patient licenses as of November 3, but the number of active business licenses declined by 385 in the past month, to 9,073, records indicate.