Oklahoma Medical Marijuana Laws, Licencing & Taxes
Oklahoma medical marijuana laws – With the passing of SQ 788 in June 2018, Oklahoma became another state in U.S. to legalize medical marijuana. In fact, it’s the 30th state to do so. However, when it comes to legalizing recreational marijuana, the state still has to wait.
Oklahoma Medical Marijuana Laws
Oklahoma Medical Marijuana Laws And Licencing – Table of contents:
- Licensing authority in Oklahoma
- Process to apply for medical marijuana patient license
- Requirements of commercial license applicants
- Application fee for medical marijuana dispensaries in Oklahoma
- Types of medical marijuana licenses in Oklahoma
- Cost of Medical Marijuana Patient License in Oklahoma
- Possession limits for medical marijuana in Oklahoma
- Oklahoma dispensary requirements
- Taxes on medical marijuana in Oklahoma
- Reporting and requirements for medical marijuana dispensaries in Oklahoma
- Record keeping requirements for marijuana dispensaries
- Will Zencanna POS meet Oklahoma’s reporting and record keeping requirements?
Oklahoma Cannabis Laws For Medical Dispensaries
Let’s discuss about the Oklahoma medical marijuana laws and licencing information.
Licensing authority in Oklahoma
- Oklahoma Medical Marijuana Authority is in charge of licensing, which began from 2018.
- The Oklahoma Medical Marijuana Authority oversees the medical marijuana program for the state of Oklahoma.
- The authority is responsible for not just licensing, but also for regulating and administering the program, as per the state law.
- As per the licensing rules, all licensed medical marijuana dispensaries in Oklahoma are allowed to sell mature plants, seedlings, edibles, flowers and concentrates to qualifying patients and caregivers.
- Once the license is granted by the authority, it must be registered with the Oklahoma Bureau of Narcotics and Dangerous Drugs Control as well.
Process to apply for medical marijuana patient license in Oklahoma
- The applicant has to be 18 and above and officially a resident of Oklahoma.
- The application should include important documents like written approval by an Oklahoma board certified physician.
- For younger patients or minors (lesser 18) and non-residents, the application needs to be signed by two Oklahoma board certified physicians and a parent/local guardian.
- Non-residents, holding a medical marijuana card, can apply for a 30-day temporary medical marijuana patient license from their state.
Requirements of commercial license applicants in Oklahoma
- Applicants, if individuals, must be 25 years of age
- They should hold residency proof within Oklahoma and a certificate of good standing from the state.
- Applicants, if are owners, should ensure that they have 75% ownership in the medical marijuana operations as Oklahoma residents.
- Members, managers and all other entity members must be Oklahoma residents.
- All owners and officers must go through and provide a complete background check, including non-violent felony convictions in the last 2 years
- Dispensaries, should submit a proof that they are not located anywhere within 1000 feet of any school entrance, both public and private.
- If an entity, then as an applicant, it has to submit a copy of the Oklahoma Secretary of State’s good standing document.
Application fee for medical marijuana dispensaries in Oklahoma
- The application fee for medical dispensary marijuana license in Oklahoma costs around $2500 (non-refundable), in addition to credit card fees.
Types of medical marijuana licenses in Oklahoma
There are 3 types of commercial cannabis licenses that are issued in Oklahoma
- Processor and
- Dispensary-each dispensary location must have a separate license. In case of multiple licenses by one entity, it should be registered under a special status with the Oklahoma Bureau of Narcotics and Dangerous Drugs Control.
- Transporter-Licensed transporters are legally allowed to transport medical marijuana from a licensed grower, licensed processor or licensed dispensary to a licensed grower or licensed processor or licensed dispensary or even a licensed researcher.
Cost of Medical Marijuana Patient License in Oklahoma
- Patient license costs around $100 and is valid for a year. For those who are on Medicaid, Medicare or sooner care, the cost is $20.
- Temporary patient licenses cost $100 too, but for a period of just 30 days.
Possession limits for medical marijuana in Oklahoma
State law allows medical marijuana patients to possess
- 3 ounces of marijuana on their person
- 8 ounces in their residence
- 6 mature plants
- 6 seedlings
- 1 ounce of concentrates
- 72 ounces of edibles
Oklahoma dispensary requirements
- Marijuana dispensaries in Oklahoma are only allowed to sell medical marijuana to medical patients or their caregivers, with a valid medical marijuana patient license.
- The medical marijuana dispensaries should be located at least 1000 feet from a public or private school. The distance of 1000 feet will be measured by a straight line, shortest distance, from the property line of the dispensary to any school entrance.
- Medical marijuana dispensaries are allowed to sell mature plants, seedlings, concentrates, flowers and edibles.
- A medical marijuana dispensary should sell only 3 ounces of usable medical cannabis, 1 ounce of marijuana concentrate and 72 ounces of other medical marijuana products in a single transaction.
- The dispensary should package and label their medical marijuana products in a way that it highlights proper warnings and has child-resistant packaging.
Taxes on medical marijuana in Oklahoma
- 7% gross receipts tax on all cannabis, in addition to sales tax, must be collected upon sale.
- After a license has been granted by OMMA, a sales tax permit needs to be obtained as well.
Reporting and requirements for medical marijuana dispensaries in Oklahoma
As per Oklahoma Medical Marijuana Authority, a monthly reporting template needs to be submitted on the 15th of every month. As per the reporting template, it should have the following: –
- Weight of marijuana sold to patients and weight of marijuana bought at wholesale. Both these need to be reported, as tracked by batch numbers.
- Accounting for every waste or damaged products.
- Total sales, in dollars
- Total tax paid, in dollars
- Any tax due, in dollars
In the event of any compliance failure, a dispensary will be subjected to penalties. This will be to the tune of $5000 with the first offence. However, a second offence, within a two-year period will result in revocation/loss of license.
Record keeping requirements for marijuana dispensaries
- All dispensaries must maintain records for at least 7 years, after the date of recording. These records should be made available to the auditors within 15 days of request.
Will Zencanna POS meet Oklahoma’s reporting and record keeping requirements?
- Zencanna point-of-sale software will generate required reports in one click and report it to the concerned authority, OMMA, avoiding any possibility of compliance error and therefore, helping dispensaries avoid penalties.
- The POS integrates well with METRC to track and trace compliance, automate reporting and establish inventory accuracy.
- The cannabis retail software integrates with BIOTRACKTHC, to assist further with compliance and adhere with government mandates in state.
- Zencanna has highly compliant POS software for dispensaries, which automates compliance at every level. Right from tracking inventory, to tracking permissible purchase and sale limits of marijuana and marijuana products, the POS is well equipped with third party integrations to handle it all.
- The POS also has instant age verification and proper ID scanners to verify age of buyers, along with the written recommendation of the physician.
- The marijuana POS is also highly tax compliant, automating cannabis tax calculations and tax filing for medical marijuana dispensaries, operating within Oklahoma.
State Cannabis Dispensary Laws
- California Dispensary Laws, Licencing & Taxes
- Missouri Medical Marijuana Laws
- Colorado Medical And Recreational Marijuana Laws
- Michigan Medical Marijuana Dispensary Laws
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