Rx marijuana tax receipts dip in Nov.

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  • Marijuana Tax Receipts
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OKLAHOMA CITY – After 13 consecutive months of substantial increases, tax receipts from medical marijuana dipped 4.1% in November but surged to a record high again in December.

The state treasury reaped $47.5 million in taxes from marijuana sales from October 2018 through November 2019, ledgers of the Oklahoma Tax Commission reflect. Tax receipts from marijuana soared to $1 million in six months and surpassed $6 million in less than a year. Month-over-month tax collections increased continuously until last November when revenue declined $282,904 from October’s receipts. But in December the tax receipts resumed their upward trajectory, climbing to a record $7.18 million. Marijuana tax receipts last year soared to $54.75 million. The Oklahoma Tax Commission collects a 7% levy on medical marijuana plus 4.5% state sales tax on purchases of marijuana products. And in tandem with consistent increases in marijuana tax collections, the number of companies across the state engaged in the medical marijuana business continues to grow: to 8,993 by Dec. 26 – an increase of 1,412 licensees (18.6%) in 15 weeks. Licensed companies include 2,220 dispensaries, 5,337 growers and 1,436 processors. In addition, the number of patients licensed by the State Health Department to buy and consume medical marijuana products had mushroomed to 220,830 as of Dec. 2, according to agency spokesman Tony Sellars.