OKLAHOMA CITY – Medical marijuana sales in Oklahoma have been soaring for two consecutive months.
The 7% state tax on purchases of medical marijuana products generated a record $6,235,994 in tax receipts in April, and collections in May were the second-highest ever recorded: $5,986,632, an increase of nearly 16% from May 2020.
The $5.98 million in MMJ tax collections, coupled with the $7.55 million in state and local sales taxes collected on MMJ purchases, produced a combined total of $13.54 million in tax receipts last month.
The MMJ taxes represented $85,523,324 in sales – an average of $231.61 for each of the 369,247 individuals with active patient licenses authorizing them to buy MMJ products. The 7% MMJ levy has produced more than $109 million in 32 months, Oklahoma Tax Commission ledgers reflect.
The state Medical Marijuana Authority listed more than 11,600 active MMJ business licenses as of June 1. Those included 7,850 growers, 2,264 dispensaries, 1,402 processors, 81 transporters, 25 laboratories, 10 waste disposal facilities, two research facilities and one education facility.
The budget for the Oklahoma Medical Marijuana Authority was $25.6 million Fiscal Year 2020, Communication Manager Terri Watkins said. The agency’s budget for FY 2021, which ends June 30, is $25,472,344, Watkins said.
The state’s 7% tax on purchases of medical marijuana products generated more than $56 million in Calendar Year 2020, and produced $28.8 million during the first five months of this year.