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Medical Marijuana Sales Soaring in Oklahoma, Top $23 Million in May

This marks the eighth straight month of growth for the new industry.

Oklahoma Welcome Sign Adobe Stock Credit Katy 89 Resized

Top photo: © katy 89 | Adobe Stock

June 10, 2019

OKLAHOMA CITY (AP) – Medical marijuana sales are continuing to climb in Oklahoma, topping $23 million in May and marking the eighth straight month of growth for the new industry.

Figures from the Oklahoma Tax Commission show the state collected more than $1.6 million in May from the 7-percent excise tax on marijuana.

Another $2 million was collected in state and local sales taxes.

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Oklahoma Gov. Kevin Stitt

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Oklahoma 245635000

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While Washington levies the highest excise tax rate in the nation, its cannabis revenue didn’t represent the highest percent of its total state tax revenue.

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The state’s attorney general penned a column urging continued enforcement action on the unregulated market.

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A recent study found that medical cannabis supply in Oklahoma outpaces demand by at least 32 times.

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The state’s ban on issuing new medical cannabis licenses was extended to Aug. 1, 2026, two years after the initial expiration date.

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State Question 820 will go before voters March 7, with promises of $434 million in new tax revenue.

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Noble Nectar Founder is 'Always Listening to the Team'

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