Chart: How Much did Oklahoma Make from Marijuana Taxes 2018-2020?
Today, 2 years after the legalization of medical marijuana in OK and in the face of a pandemic, medical marijuana tax revenues are helping to keep our cities, neighbors, businesses, and budgets alive.
Tax Collections from Medical Marijuana Businesses in Oklahoma 2018-2020
2018 (Oct.-Dec.) $241,915
2019 (Jan.-Dec.) $54,751,171
2020 (Jan.-Nov.) $127,690,734
Numbers represent taxes collected through November 2020.
For example, in the capital city of Tulsa, the city is expected to collect over $4.8 million in sales tax on the sale of medical marijuana. (almost double the $2.7 million the city collected in 2019!)
"It also would represent a significant increase — about 80% — in medical marijuana sales tax collections as a percentage of the city’s overall sales tax revenue." source Tulsa World
As we look forward to 2021, we are proud to support economic growth, jobs, and new opportunities for our towns, cities, and state. Together, the medical marijuana community has shown tremendous resourcefulness, compassion, and the ability to continue to create more jobs for our fellow citizens as well as wealth for our state coffers.